Gross Revenue Minus Explicit and Implicit Costs Is Equal to

question 233

Multiple Choice

Gross revenue minus explicit and implicit costs is equal to

• A)accounting profit.
• B)opportunity cost.
• C)economic profit.
• D)net worth.

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Definitions:

Produce Wholesaler

A business entity that buys fruits and vegetables in bulk from farms to resell to retailers, markets, or restaurants.

Neighborhood Grocery

A local grocery store situated within a residential area, often accessible by the nearby community.

Cash Receipts

Money received by a business or individual, documented for accounting purposes to track income and financial transactions.

Security Service

A service offered by professionals to protect individuals, businesses, and properties from harm or theft.