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irina [24]
3 years ago
13

Accounting profits are typically

Business
1 answer:
vodomira [7]3 years ago
5 0

Answer:

d. greater than economic profits because the former do not take implicit costs into account.

Explanation:

Accounting profit is total revenue less total cost or explicit cost.

Explicit cost are costs that is actually incurred. They appear in the financial statements of a company.

Economic profit is accounting profit less implicit cost.

Implicit cost is also known as opportunity cost. It is the cost of the activity forgone in order to carry out another activity. For example, if I earn $100 working as a teaching assistant but resign to start my own business as a fashion designer where I earn $500, my opportunity cost is $100.

Accounting profit is usually greater than economic profit because it doesn't take into account implicit cost. Accounting profit can be equal to economic profit if implicit cost is zero.

I hope my answer helps you.

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Which phrase best describes a function
Nata [24]

It is a formula containing arguments. This is because a function maps the domain to its range. Argument is synonymous to domain.

Hope this helps!

5 0
3 years ago
When a retail merchandising business sells goods to a customer the amount of the sold merchandise is credited to the merchandise
Ghella [55]

Answer: False

Explanation:

The revenue account for a Retail Merchandising Business is also known as the Sales Account.

When goods are sold they are credited to the Sales Account and it is no different here.

Therefore, When a Retail Merchandising Business sells goods to a customer the amount of the sold merchandise is credited to the Sales Account which makes the above statement false.

8 0
3 years ago
7) Suppose the real exchange rate is 10, the domestic price level is 8, and the foreign price level is 4. (a) What is the nomina
konstantin123 [22]

Answer and Explanation:

The computation is shown below:

1. Nominal exchange rate is

= (Real exchange rate) × (foreign price level ÷ domestic price level)

= 10 × (4 ÷ 8)

= 5

2. Change in Nominal exchange rate is

Change in  Nominal exchange rate = (real exchange rate change )  + foreign inflation - domestic inflation

= 10 + 4 - 6

= 8%

3.) foreign inflation rate

= Change in Nominal exchange rate - real exchange rate change + domestic inflation

= 5 - 8 + 3

= 0%

We simply applied the above formulas

4 0
3 years ago
I had a full time job this summer where i earned $10 per hour. it costs me about $4 in gas money for every round trip to and fro
Akimi4 [234]
<span>The opportunity cost per week to attend class is forty four dollars. Ten dollars per hour while you are attending class. If you were not attending class, you could be working. Ten dollars for the drive to school and four dollars for the gas.</span>
3 0
3 years ago
Last year your performance was not very good and your performance rating was below average, but this year you have done very wel
kakasveta [241]
1. you boss did not set a clear goal of your work expectation. he/she probably still sunk in your last year performance shadow. he/she judged your this year performance in accordance with whose his/her old impression



4 0
2 years ago
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