Examlex
Which of these statements is not correct?
Accounting Profit
The total revenue of a firm less its explicit costs; the profit (or net income) that appears on accounting statements and that is reported to the government for tax purposes.
Entrepreneur's Talent
Entrepreneur's talent refers to the unique skills, insights, and abilities that an entrepreneur applies to develop innovative ideas, overcome obstacles, and drive business success.
Annual Revenue
The total amount of money generated by a company from its activities, such as sales or services, before any expenses are subtracted, in one fiscal year.
Explicit Cost
The monetary payment made by a firm to an outsider to obtain a resource.
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