Economic profit = Accounting profit - Implicit costs is correct
Explanation:
Economic profit includes income minus implied (opportunity) and explicit (currency) costs, while accounting profit includes benefit minus explicit cost.
The monetary risks a organization has are clear. The cost of competition of the capital of a organization are tacit costs.
The administrative expenses a corporation carries out and the income a business receives are the accounting benefit. This is the income from bookkeeping that comes beyond economic benefit.
Benefit accounting= net currency profit-total expenses.
Economic benefit is the expense of money and incentive of a business paying and the profits earned by an firm.
Company benefit= total income–(explicit cost + implicit cost).
<u>In a business context, legal counsel is not only a primary and important source of information and advice but is also solely responsible for making decisions about how to resolve a disput</u>e-This statement is false
Explanation:
<u>Alternative dispute resolution options is one of the most popular way to settle legal matters without wasting Time and money in a court cases</u>
There are three main types of formal alternative dispute resolution techniques that are used in the United States. They are
<u>Mediation
</u>
In mediation alternative an independent mediator works with both the parties to come to a resolution.
<u>Arbitration
</u>
Arbitration refers to the term voluntary, many people agree to participate in arbitration before a dispute ACTUALLY arises.
In an arbitration, both the parties agree to have their case heard by an impartial person who is refereed to as an arbitrator, who issues a final and binding decision.
An arbitration case is heard much faster and is less expensive than a court case
<u></u>
<u>Collaborative Law
</u>
This is typically used in the resolution of family law setting as an alternative to litigating a divorce. It is different than mediation or arbitration in the sense that there is no neutral third party.
All of the answers above.
Interpersonal communication skills are the ability to communicate well with other people.
Answer:
Credit Union
Explanation:
A not for profit organization means the organization whose main goal is not to make the profit. Here the main goal is to provide the services for a particular services or to give the benefit to the people.
Like the financial services give to the members of the credit union
Therefore as per the given options, the second option is correct
Answer:
True
Explanation:
Fixed cost is the cost which cannot be avoided and is not dependent on level of activity thus, if there is high fixed cost than variable cost, in that case with decrease in level of output the loss will rise rapidly.
Where variable cost is more than fixed cost, then the cost will only increase or incur when there is production accordingly in case of low sale or low production the loss will also be less, as accordingly cost will be less.
Therefore, the statement in question is TRUE
