Which of the Following Statements Is (Are) TRUE

question 100

Multiple Choice

Which of the following statements is (are) TRUE?
I. Accounting profit equals total revenue minus accounting cost.
II. Economic cost equals accounting cost minus opportunity cost.
III. Economic profit equals accounting profit plus opportunity cost.
IV. Economic profit equals total revenue minus economic cost.

• A) I and IV
• B) I, II, III, and IV
• C) II and IV
• D) I, III, and IV

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