CMA Pop Quiz: How did you do on our #CMAPopQuiz? #CMA
Solution: D
Economic profit is defined as revenue minus all explicit and implicit costs. The implicit costs are generally referred to as opportunity costs.
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Christine Purelis
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Original Message:
Sent: 08-17-2018 10:53 AM
From: Christine Purelis
Subject: CMA Pop Quiz- Q&A 245
CMA Pop Quiz: Are you preparing for the #CMA exam? Take our #CMAPopQuiz!
The concept of economic profit is best defined as total
a. revenue minus all accounting costs.
b. income minus the sum of total fixed and variable costs.
c. revenue minus the sum of total fixed and variable costs.
d. revenue minus all explicit and implicit costs.
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Christine Purelis
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