Total Profit

question 224

Multiple Choice

Total profit

• A)is the difference between sales revenue and costs.
• B)maximization is always the goal of every firm.
• C)is always defined the same by both economists and accountants.
• D)is maximized when sales are maximized.

---

Definitions:

Cleanup Order

A directive issued by a court or regulatory authority requiring the remediation of environmental contamination.

Federal Water Pollution Control Act

Also known as the Clean Water Act, this law, established in 1948 and significantly expanded in 1972, aims to regulate the discharge of pollutants into the waterways of the United States.

Navigable Waterways

Water bodies that are deep and wide enough for ships and boats to travel on, often regulated by government authorities.

Resource Conservation

The practice of managing natural resources such as water, soil, and forests to prevent depletion and ensure their sustainability for future generations.