Which of the Following Expressions Is Correct

question 496

Multiple Choice

Which of the following expressions is correct?

• A)accounting profit = total revenue - explicit costs
• B)economic profit = total revenue - implicit costs
• C)economic profit = total revenue - explicit costs
• D)Both a and b are correct.

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Definitions:

Crowdsourcing

The act of a company or institution taking a function once performed by employees and outsourcing it to an undefined (and generally large) network of people in the form of an open call.

Resources Requirements

The specific needs for materials, human capital, and financial assets necessary to carry out an operation or project.

Demographic Impacts

The effects that changes in the demographic profile of a population have on various societal elements, including the workforce, economy, and consumer trends.

Human Resources

The department within an organization that is responsible for all aspects of managing the employer-employee relationship, including recruitment, training, performance management, and ensuring compliance with employment laws.