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.

Distinguish between different types of timers and their specific applications.

Comprehend the concept of a time base and its relevance in timer instructions.

Recognize the impact of logic continuity on the operation of timer instructions.

Understand how to reset timer instructions effectively.

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Definitions:

Direct Method

A method of preparing the cash flow statement where actual cash flow information from the company’s operations segment is used directly.

Indirect Method

A way of calculating cash flows from operating activities for the cash flow statement by adjusting net income for changes in non-cash items.

Quality

The degree of excellence of a product or service, or its conformity to established standards or specifications.

Income Ratio

A financial metric used to gauge a company's profitability by comparing its income to other relevant figures, such as sales or assets.