Total Revenue Minus Both Explicit and Implicit Costs Is Called

question 313

Multiple Choice

Total revenue minus both explicit and implicit costs is called

• A)accounting profit.
• B)economic profit.
• C)average total cost.
• D)total cost.

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Definitions:

Factual Reports

Documents that provide information based on evidence and facts without the inclusion of personal opinions or biases.

Recommendation

Advice or suggestions offered based on analysis or expertise, intended to guide decisions or actions.

Evaluative Reports

Documents that assess the performance, value, or quality of a project, program, or employee.

Range Of Reports

The variety of documented accounts or statements covering different topics or areas of study.