In Accounting Terms, Profits Are ______

question 144

Multiple Choice

In accounting terms, profits are ______.

• A) the difference between revenues and expenses
• B) the difference between commissions earned and receipts
• C) the difference between sales and expenses
• D) the sum of sales and expenses

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Definitions:

Behavioral Economists

Economists who study the effects of psychological, cognitive, emotional, cultural, and social factors on the economic decisions of individuals and institutions and the consequences for market prices, returns, and resource allocation.

Decision Making

The process of making choices by identifying a decision, gathering information, and assessing alternative resolutions.

Behavioral Economist

An expert who studies the effects of psychological, cognitive, emotional, cultural, and social factors on economic decisions by individuals and institutions.

Sugary Treats

Foods high in sugar content, often lacking in nutritional value, and considered to be indulgent or non-essential for a healthy diet.