Examlex
Identify which type sensor?
Accounting Profit
The difference between total revenue and explicit costs; it does not account for implicit costs, unlike economic profit.
Total Revenue
The entire amount of income generated by the sale of goods or services before any costs are subtracted.
Economic Costs
The total cost of choosing one action over another, consisting of both explicit costs (direct monetary outlays) and implicit costs (the value of opportunities foregone).
Accounting Degree
An academic degree that prepares students for careers in accounting, focusing on areas like auditing, tax, financial reporting, and management accounting.
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