Examlex
The standard format of a journal would not include
Total Profit
The financial gain made in a transaction or over a period of time, which equals total revenues minus total costs.
Economic Profits
Profits calculated by subtracting both explicit and implicit costs from total revenues, representing the additional value created beyond all resource costs.
Accounting Profits
The total revenue of a company minus the explicit costs and depreciation expenses.
Total Costs
Total costs represent the complete sum of all expenses incurred by a business in the production of goods or services, including both fixed and variable costs.
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