Accounting Profit Equals

question 70

Multiple Choice

Accounting profit equals

• A)explicit costs minus implicit costs
• B)economic profit minus implicit costs
• C)economic profit minus explicit costs
• D)economic profit minus explicit costs and implicit costs
• E)economic profit plus implicit costs

---

Definitions:

Real Estate

The market sector involving the buying, selling, and leasing of land, buildings, and property.

House Size

The measurement of a living space in a home, often quantified in square feet or meters, indicating the available living area.

Residual

The discrepancy between actual observations and the values forecasted by a theoretical model.

Family Income

The total monetary income received by all members of a household, contributing to the household's total wealth over a specific period, usually measured annually.