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.

Identify the concept of authority and its relevance in organizational structure.

Understand the impact of product organization design on managing information overload and specialization.

Comprehend the challenges and disadvantages associated with geographic and network designs.

Recognize the ethical implications in organizational decisions and structure, exemplified by cases like Enron.

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Definitions:

Social Responsibility

The ethical framework that an individual or organization should act in a way that benefits society at large.

Pay

Compensation or salary received by an employee in exchange for their labor or services provided to an employer.

Learning Opportunities

Situations or programs designed to facilitate the acquisition of knowledge, skills, and competencies in a specific area of interest.

Employee Hotline

A dedicated phone line or communication service set up by organizations for employees to report grievances, seek help, or provide anonymous feedback.