As Long as There Are __________ Costs, __________ Profit Will

question 214

Multiple Choice

As long as there are __________ costs, __________ profit will be greater than __________ profit.

• A)implicit; accounting; economic
• B)explicit; accounting; economic
• C)implicit; economic; accounting
• D)explicit; economic; accounting

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Definitions:

Outstanding Checks

Unprocessed checks that have been written and deducted from an account's balance but not yet presented for payment or cleared.

Check Register

A record book or ledger that tracks all checks written, deposits made, and current balance for a checking account.

Cash Balance

The total amount of cash in a company's account at any given time.

Deposits

The act of placing money into a financial account, or the money that is placed into such an account.