Answered

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MC Qu. 01-02 Profit is best described as
Profit is best described as
Multiple Choice
О
the owner's annual salary.
О
the sales dollars that a business acquires, over time.
revenues plus expenses, less taxes.
the funds available for business growth, after expenses
and salaries are paid.

Sagot :

GinnyAnswer

Final answer:

Profit in business is the excess of revenues over costs, accounting for all expenses incurred by a business.


Explanation:

Profit is best described as the excess of a business's total revenues over total costs. It is the financial gain a business makes after deducting all expenses from its income.

For example, if a company's total revenue is [tex]$100,000 and its total costs are $[/tex]80,000, then the profit would be [tex]$20,000 ($[/tex]100,000 - $80,000).

Accounting profit is calculated by subtracting explicit costs, such as wages and rent, from total revenues, while economic profit considers both explicit and implicit costs.


Learn more about Profit in Business here:

https://brainly.com/question/40472158


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