Which of the Following Statements Is True About Profit

question 230

Multiple Choice

Which of the following statements is true about profit?

• A)Profit refers to the revenue received from the sale of a quantity of goods.
• B)Profit is calculated by multiplying price and quantity sold.
• C)The terms "accounting profit" and "economic profit" can be used interchangeably.
• D)Profit is the difference between revenue and cost.

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Definitions:

Concentration

The action or power of focusing one's attention or mental effort.

Distractions

Anything that diverts attention away from the focus of attention, often leading to decreased productivity or attention.

Feedback

Information given to people either on how well they are performing a task, or on how clearly they are being understood.

Speaker

An individual who expresses thoughts, feelings, or information verbally in a conversation, public discourse, or presentation.