Accounting Profit Is Equal to Which of the Following

question 36

Multiple Choice

Accounting profit is equal to which of the following?
(i) economic profit + implicit costs
(ii) total revenue - implicit costs
(iii) total revenue - opportunity costs

• A)(iii) only
• B)(i) and (ii)
• C)(i) only
• D)none of the above

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Definitions:

Genes

The segments of DNA that are located on the chromosomes and are the basic units for the transmission of all hereditary traits.

Gerontology

The study of the aging process and the challenges encountered as individuals grow older.

Autosomes

Chromosomes that are not sex chromosomes; humans have 22 pairs of autosomes, making up the majority of the human genome.

Chromosomes

Thread-like structures located inside the nucleus of animal and plant cells, made of protein and a single molecule of DNA.