A ________ Can Be Defined as the Total Profits in an Industry

question 79

Multiple Choice

A ________ can be defined as the total profits in an industry at all points along the industry value chain.

• A) profit maximizer
• B) revenue enhancer
• C) profit pool
• D) profit outsourcing

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Definitions:

Patent

A legal right granted by a government authority to an inventor to exclude others from making, using, or selling an invention for a certain period of time.

Merchandise Inventory

Goods that a company has in stock and available for sale to customers.

Office Supplies

Items used in offices by businesses and other organizations, typically including small expendable items such as pens, paper, staples, and envelopes.

Closing Process

The accounting procedure used to close out temporary accounts and transfer their balances to permanent accounts at the end of an accounting period.