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2 years ago

Distinguish between economic and accounting profit

Business

2 answers:

Masja [62]2 years ago

8 0

Answer:

The main difference between accounting and economic Profit is that accounting profit refers to monetary revenue minus monetary costs which includes any type of cost in the organization in the form of rents, salaries, material costs etc. Economic profit refers to the monetary revenue minus total cost.

Explanation:

maksim [4K]2 years ago

5 0

The differences between economic and accounting profits exist in their definitions, despite their similarities.

<h3>What is economic profit?</h3>

Economic profit has the following characteristics:

It includes both explicit and implicit costs.
It is determined by economic principles, especially the economic concept of opportunity cost.
In summary, economic profit is the total revenue minus both implicit (opportunity cost) and explicit costs.

<h3>What is accounting profit?</h3>

Accounting profit has the following characteristics:

It includes only explicit costs.
It is determined by accounting principles (U.S. GAAP or IFRS).
It is equal to net income or revenue minus explicit expenses.

Thus, there are differences between accounting and economic profits.

Learn more about economic and accounting profit at brainly.com/question/25742185

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(01.02 mc) which of these actions was an economic cause of increased tensions between the north and south?

Damm [24]

The correct option is (b) Protective tariffs

Protective tariffs aim to make imported goods more expensive while protecting domestic producers from overseas rivalry.

<h3 /><h3>What is protective tarrifs?</h3>

An illustration of a protective tariff would be the US raising the customs charge on clothing imported from Britain so that it is significantly more expensive than clothing made domestically.
The importing countries profit the most from tariffs since they design the policy and receive the cash.
The main advantage of tariffs is that they generate income from imported products and services. Tariffs may also serve as a springboard for negotiations between two countries.
Protective tariffs are designed to shield vital American industries from international competition, stop foreign manufacturers from dumping inexpensive goods in the US, or both.

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#SPJ4

I understand that the question you are looking for is "Which of these actions was an economic cause of increased tensions between the North and South?

(a) Dred Scott decision

(b) Protective tariffs

(d) Lincoln’s election"

6 0

2 years ago

An empty lot is located in a neighborhood of single-family homes. It is the only empty lot in this well-maintained neighborhood.

yuradex [85]

Answer: D - A single-family home

Explanation:

Highest and best use can be described as the use of a vacant site that creates the highest value after construction costs and alternative uses of the vacant lot has been sybtracted. The area where the empty lot is located is residential, therefore it would be inappropriate to situate a factory there. Also a store is located nearby,so it would be unnecessary to build a store on the empty land. Same goes with a parking lot, a parking lot shouldn't be situated in a residential area; it would not be needed in a residential area.

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3 years ago

Which of the following decisions is part of the HR function of compensation?

ivann1987 [24]

Answer:

D. Whether to pay office workers a wage or a salary

Explanation:

The HR compensation functions entail rewarding employees for work done. Employee compensation includes monetary payments such as salaries, wages, overtime, profit sharing, allowances, or bonuses.

Non -monetary compensation includes benefits such as housings, paid car, insurance coverage, and stock ownership.

In consultation with the other managers, the HR managers determine the level and combination of compensation for every employee. HR has to decide whether to employ office workers on a part-time or full-time basis. Equally, HR determines whether to pay the office workers either a salary or wages.

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3 years ago

Which oif the following statements about planned obselence is true?A. Environmentalists supports planned obsolescence.B. A compa

posledela

Answer: C. Style modification creates planned obsolescence.

Explanation:

Planned obsolescence also referred to as the premature obsolescence or built-in obsolescence is when a product is designed with a limited useful life which is artificial, so that the product later becomes obsolete after a period of time. It should be noted that style modification creates planned obsolescence as there's always need to try out new things and evolve.

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4 years ago

________ corporate social responsibility (CSR) refers to the philanthropic approach to CSR in which organizations target program

astraxan [27]

Philanthropic corporate social responsibility (CSR) serves as philanthropic approach to CSR in which organizations target programs that will generate the most positive publicity.

<h3>What is Philanthropic corporate social responsibility?</h3>

Philanthropic corporate social responsibility can be regarded as one whereby, there us donation funds, goods to another organization or cause.

They runs the greatest risk of being perceived as self-serving behavior.

Learn more about Philanthropic corporate social responsibility at:

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3 years ago