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Accounting profit is equal to:
  • a)
    Total Revenue – Total variable cost
  • b)
    Total Revenue – Total direct cost
  • c)
    Total Revenue – Total Cost
  • d)
    Total Revenue – Total Explicit cost and Total Implicit Cost. 
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
Accounting profit is equal to:a)Total Revenue – Total variable c...
Minus Total Expenses
b)Total Revenue minus Total Cost
c)Total Revenue minus Variable Cost
d)Total Revenue minus Fixed Cost

Answer: b) Total Revenue minus Total Cost.
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Accounting profit is equal to:a)Total Revenue – Total variable costb)Total Revenue – Total direct costc)Total Revenue – Total Costd)Total Revenue – Total Explicit cost and Total Implicit Cost.Correct answer is option 'C'. Can you explain this answer?
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