Examlex
The standard Gibbs free energy of formation of ________ is zero.
(a) H2O (l)
(b) O(g)
(c) CL2(g)
Explicit Costs
Direct payments made to others in the course of running a business, such as wages, rent, and materials.
Accounting Profits
The net earnings of a company as calculated by subtracting total expenses from gross revenue, according to accepted accounting principles.
Economic Profit
The difference between a firm's total revenue and its total costs, including both explicit and implicit costs, reflecting the financial gain exceeding the opportunity cost of resources used.
Accounting Profit
Net income of a company is determined by deducting total expenses from total revenues, in line with established accounting norms.
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