Profit Helps to Indicate Where Resources Are Best Allocated

question 140

True/False

Profit helps to indicate where resources are best allocated.

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Definitions:

Future Benefit

The expected benefit that will be derived from an investment or action in the future, often used in cost-benefit analyses to evaluate potential projects or investments.

Non-posting Account

A non-posting account is an account used in accounting software for transactions that affect reports or balances without affecting the general ledger.

Accounting System

A systematic process of recording, measuring, and communicating financial information about economic entities.

Chart of Accounts

A systematic listing of all ledger account titles and numbers used in a company's accounting system.