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Marta_Voda [28]
3 years ago
8

What is the primary difference between accounting profits and economic profits?

Business
1 answer:
sergejj [24]3 years ago
6 0

Answer: Accounting profits ignore implicit costs; economic profits consider them.

Explanation: In simple words, implicit cost refers to the cost of choosing the best alternative and loosing the profit that one could have earned by choosing the second best alternative.

Accounting profit is the revenue that one has left with after compensating for explicit cost but economic cost also takes into consideration the implicit one.

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Dombey's "heavy gold watch chain" and "trim blue coat" suggest that A) he is a humble man of the people. B) he once belonged to
Katena32 [7]
The answer would be D. Think of his nice clothing and gold. This shows that this person has a lot of money, showing success.
4 0
3 years ago
Read 2 more answers
What Are Some Reasons To Have A Credit Card?
andreev551 [17]

Answer:

1 Boost your credit history and score

2 Internet purchases

3 Emergency money

4 Rewards

5 History of purchases

6 No fear of loss or theft

7 Interest free money

8 Merchant protection

9 Insurance on purchases

10 Convenient when traveling

3 0
3 years ago
During 2017, its first year of operations, Jane's Bakery had revenues of $130,000 and expenses of $66,000. Retained earnings at
Phantasy [73]

Answer:

$28,000

Explanation:

Ending retained earnings = beginning retained earning + current earnings - dividends paid out.

for Jane's Bakery,

Beginning retained earning 0,

Dividends : $36,000

earnings = revenues - expenses

earnings = $130,000 - $ 66,000

=64,000

ending retained earnings = 0+$64,000- $36,000

=$28,000

5 0
3 years ago
The merging of national markets that have historically been distinct and separate is the process of.
andrezito [222]

It should be noted that merging of national markets that have historically been distinct and separate is the process of Globalization of Market.

<h3>What is Globalization of Market?</h3>

Globalization of Market  can be regarded as the  coming together of historically distinct as well as separate national markets making large space of market.

Therefore, Globalization of Market involves merging of national markets that have historically been distinct.

Learn more about Globalization of Market at;

brainly.com/question/4934175

4 0
2 years ago
Protect provides house-sitting for people while they are away on vacation. Some of its customers pay immediately after the job i
Alona [7]

Answer:

a. $500

b. $1,700

Explanation:

In the cash basis system of accounting, revenue is recognized once cash has been collected while under accrual basis, revenue is collected once it is earned irrespective of whether cash has been collected or not.

Expenses are recorded when cash is paid in the cash basis system while expenses are recorded once it is incurred under the accrual system of accounting.

Hence

Cash basis - revenue earned is $500 for the year

Accrual basis - revenue earned is $1700 ( the sum of the amount paid and owed by the customer).

3 0
3 years ago
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