Total Revenue Minus Both Explicit and Implicit Costs Is Called

question 313

Multiple Choice

Total revenue minus both explicit and implicit costs is called

• A)accounting profit.
• B)economic profit.
• C)average total cost.
• D)total cost.

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Definitions:

Monitoring/Internal

The process of continuously checking, tracking, or verifying activities or systems for compliance with standards or plans, often referenced in the context of internal controls or supervision.

External Leadership Actions

Activities and initiatives undertaken by leaders outside of their immediate team or organization, influencing wider stakeholders and environments.

Environmental

Relating to the natural world and the impact of human activity on its condition.

Leadership Decisions

Choices made by leaders that influence the direction and actions of a group or organization.