Pendary Place Cafe reported the following financial results for 2011 and 2012:
Provide the answer for each missing letter above.
Definitions:
Economic Profits
The distinction between the total income of a company and its overall expenses, encompassing both direct and indirect costs.
Actual Expenses
The real or verified costs incurred during a specific period for operations, projects, or activities.
Accounting Costs
The actual expenses and cash outflows that a business incurs, captured in its financial records.
Implicit Costs
The opportunity costs of using resources owned by the firm for its current purposes rather than the next best alternative uses.
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