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HKICPA QP Module 3 Business Economics Practice Questions - HKICPA Qualification Programme Associate Level Module 3 Business Economics (Hong Kong) Exam

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A professional accountant resigns from a bank where they earn HKD 50,000 per month to start their own practice. They rent an office for HKD 15,000 per month, hire an assistant for HKD 12,000 per month, and spend HKD 5,000 per month on other expenses. In the first month, the practice generates HKD 90,000 in revenue. What is the accountant's economic profit for the first month?
Correct Answer:
HKD 8,000

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