The Subscription Service for Microsoft Office 2016 Is Called Microsoft

question 40

Multiple Choice

The subscription service for Microsoft Office 2016 is called Microsoft ____.

• A) Office 365
• B) Cloud Office
• C) Office Online
• D) All Apps

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Definitions:

Accounting Profit

The total revenue of a business minus the explicit costs, representing the financial gain in accounting terms.

Economic Profit

The difference between total revenue and total costs, including both explicit and implicit costs, representing the additional return over the investor's opportunity cost.

Implicit Costs

The opportunity costs of using resources owned by the firm for its own production instead of earning revenue from these resources elsewhere.

Explicit Costs

These are the direct, out-of-pocket payments made by businesses for operational expenses like wages, rent, and materials.