Which of the Following Statements Is True About Profit

question 230

Multiple Choice

Which of the following statements is true about profit?

• A)Profit refers to the revenue received from the sale of a quantity of goods.
• B)Profit is calculated by multiplying price and quantity sold.
• C)The terms "accounting profit" and "economic profit" can be used interchangeably.
• D)Profit is the difference between revenue and cost.

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Definitions:

Positive

Exhibiting or emphasizing beneficial qualities, or expressing optimism and support.

Negative

Characterized by the absence rather than the presence of a particular attribute, feature, or outcome.

Delusion

A false belief strongly held despite incontrovertible evidence to the contrary.

Genetic Factors

Elements within an individual's DNA that can influence their traits and health.