The Rectangle in a Flowchart Is Called the ____ Symbol

question 18

Multiple Choice

The rectangle in a flowchart is called the ____ symbol and is used to represent tasks such as calculations.

• A) start/stop
• B) input/output
• C) process
• D) flow

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Definitions:

Explicit Costs

Direct, out-of-pocket payments for goods or services used in production, such as wages or rent.

Accounting Profit

The financial gain calculated by subtracting total explicit costs from total revenue, not considering implicit costs.

Economic Profit

The difference between a firm's total revenue and its total costs, including both explicit and implicit costs.

Accounting Profit

The total revenue of a business minus the explicit costs of operating the business.