Homework Answers
Answer of the above asked ques is FALSE .
This is because accounts does not include profit the reason behind this is they are difficult to measure , whereas accounting profit means deduction of explicit cost from revenue .
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QUESTION 45 Accounting profit takes into account only the implicit costs while economic profit does not...
Which of the following definitions is correct? Economic profit - accounting profit - implicit costs Economic...
Which of the following definitions is correct? Economic profit - accounting profit - implicit costs Economic profit - accounting profit = explicit costs Economic profit - implicit costs = accounting profit Accounting profit + economic profit = normal profit Economic profit - accounting profit = normal profit
The difference between economic profit and accounting profit is that economic profit is calculated based on...
The difference between economic profit and accounting profit is that economic profit is calculated based on both implicit and explicit costs whereas accounting profit is calculated based on explicit costs only. True False
Is it better to have an accounting profit or economic profit? Why? costs have Drag word(s)...
Is it better to have an accounting profit or economic profit? Why? costs have Drag word(s) below to fill in the blank(s) in the passage. It is better for a company to have an profit because it means both been the total revenue and the company is still profitable. An into consideration the explicit costs of doing business. p rofit only takes accounting * implicit and explicit * added to * explicit * economic subtracted from * implicit * profit*...
Suppose that explicit costs are $8,000 and implicit costs equal zero. If economic profit is $20,000,...
Suppose that explicit costs are $8,000 and implicit costs equal zero. If economic profit is $20,000, then accounting profit is $
Suppose that explicit costs are $10,000. If accounting profit is $37,000 and economic profit is $37,000,...
Suppose that explicit costs are $10,000. If accounting profit is $37,000 and economic profit is $37,000, then implicit costs equal
explicit costs 5. Working with Numbers and Graphs Q5 implicit costs If accounting profit is $88,000...
explicit costs 5. Working with Numbers and Graphs Q5 implicit costs If accounting profit is $88,000 greater than economic profit, it implies that equal $ Grade It Now Save & Continue Continue without saving
Question 1 Accounting profits are typically: equal to economic profits because accounting costs include all opportunity...
Question 1 Accounting profits are typically: equal to economic profits because accounting costs include all opportunity costs. O greater than economic profits because the former do not take implicit costs into account. smaller than economic profits because the former do not take implicit costs into account. O greater than economic profits because the former do not take explicit costs into account.
Microeconomics multiple choice questions If implicit costs equal accounting profit, economic profit must be Select one:...
Microeconomics multiple choice questions If implicit costs equal accounting profit, economic profit must be Select one: a. negative. b. positive. c. zero. d. higher in the short run than in the long run. e. higher in the long run than in the short run. The reason the change in total cost divided by the change in output is equal to the change in total variable cost divided by the change in output, is because Select one: a. total variable cost...
this is micro economics Define Accounting Profit and Economic Profit What is the difference between Accounting...
this is micro economics
Define Accounting Profit and Economic Profit What is the difference between Accounting Profit and Economic Profit? Does a profitable have to earn a positive economic profit or can it still be profitable while earning a zero economic profit? Answer the above question and respond to at least two of your classmates' posts
Which statement is true about economic profit: Select one: a. Generally large than accounting profit. b....
Which statement is true about economic profit: Select one: a. Generally large than accounting profit. b. Calculated by subtracting only implicit costs of using owner-supplied resources from the firm's total revenue. c. Negative when explicit costs exceed revenues. d. A theoretical measure of a firm's performance and has little value in real world decision-making.
Which of the following definitions is correct? Economic profit - accounting profit - implicit costs Economic profit - accounting profit = explicit costs Economic profit - implicit costs = accounting profit Accounting profit + economic profit = normal profit Economic profit - accounting profit = normal profit
Is it better to have an accounting profit or economic profit? Why? costs have Drag word(s) below to fill in the blank(s) in the passage. It is better for a company to have an profit because it means both been the total revenue and the company is still profitable. An into consideration the explicit costs of doing business. p rofit only takes accounting * implicit and explicit * added to * explicit * economic subtracted from * implicit * profit*...
Suppose that explicit costs are $8,000 and implicit costs equal zero. If economic profit is $20,000, then accounting profit is $
Suppose that explicit costs are $10,000. If accounting profit is $37,000 and economic profit is $37,000, then implicit costs equal
explicit costs 5. Working with Numbers and Graphs Q5 implicit costs If accounting profit is $88,000 greater than economic profit, it implies that equal $ Grade It Now Save & Continue Continue without saving
Question 1 Accounting profits are typically: equal to economic profits because accounting costs include all opportunity costs. O greater than economic profits because the former do not take implicit costs into account. smaller than economic profits because the former do not take implicit costs into account. O greater than economic profits because the former do not take explicit costs into account.
this is micro economics
Define Accounting Profit and Economic Profit What is the difference between Accounting Profit and Economic Profit? Does a profitable have to earn a positive economic profit or can it still be profitable while earning a zero economic profit? Answer the above question and respond to at least two of your classmates' posts
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