When You Change Inventory Prices from the Ledger Settings Update

question 15

Multiple Choice

When you change inventory prices from the ledger settings update price lists screen -

• A)you must change all prices by the same amount
• B)you must change all prices by the same percentage
• C)you must change regular prices before updating preferred prices
• D)none of the above

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Definitions:

Economic Profit

The difference between the total revenue received by a business and the total costs, including both explicit and implicit costs.

Overhead

Ongoing business expenses not directly attributed to creating a product or service.

Accounting Profit

The total revenue of a business minus explicit costs, representing the monetary gain recorded in financial statements.

Economic Profit

The gap between total income and all expenses, covering both explicit and hidden costs.