Which concept--the business profit concept or the economic profit concept--provides the more appropriate basis for evaluating business
Question:
Which concept--the business profit concept or the economic profit concept--provides the more appropriate basis for evaluating business operations? Why?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 71% (14 reviews)
The economic profit concept provides the most appropriat...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
Why might small business CEOs focus more attention on profit and less on social goals than large business CEOs do?
-
Why is the economic concept of scarcity a crucial concept for businesspeople to understand?
-
Which segmentation variables are more useful or appropriate for profiling a target market for an automobile like the Mini? Similarly, which are more useful or appropriate for profiling the target...
-
Write a program RecoverSignal that will read the binary file written by StoreSignal, as described in the previous exercise. Display the integer values that the data represents on the screen.
-
A spring-loaded piston/cylinder arrangement contains R-134a at 20C, 24% quality with a volume 50 L. The setup is heated and thus expands, moving the piston. It is noted that when the last drop of...
-
For each group of figures that follows, determine the missing amount. 1. Beginning merchandise inventory Net purchases Cost of merchandise available for sale 2. Net sales Cost of merchandise sold...
-
For a fluid of specific gravity \(S G=0.86\) flowing past a flat plate with an upstream velocity of \(U=5 \mathrm{~m} / \mathrm{s}\), the wall shear stress on the flat plate was determined to be as...
-
Bob Banker is the manager of one location of the Fastwhere Inc. chain, which is a delivery service. Bankers location is currently earning an ROI of 14 percent on existing average capital of $750,000....
-
Income Statement Calculations O'Connor Company's income statement information is as follows: Year 2 Year 3 Beginning inventory $ (a) $ (d) Sales 206,000 (e) Purchases 130,000 140,000 Purchases...
-
In paper electrophoresis, amino acids and peptides can be separated by their differential migration in an electric field. To the center of a strip of paper is applied a mixture of the following three...
-
How is the popular notion of business profit different from the economic profit concept? What role does the idea of normal profits play in this difference?
-
Some argue that prescription drug manufacturers, like Pfizer, gouge consumers with high prices and make excessive profits. Others contend that high profits are necessary to give leading...
-
Respondent James Herman OHagan was a partner in the law firm of Dorsey & Whitney in Minneapolis, Minnesota. In July 1988, Grand Metropolitan PLC (Grand Met), a company based in London, England,...
-
Given the probability density \(f(x)=\frac{k}{1+x^{2}}\) for \(-\infty
-
If the distribution function of a random variable is given by \[F(x)= \begin{cases}1-\frac{4}{x^{2}} & \text { for } x>2 \\ 0 & \text { for } x \leq 2\end{cases}\] find the probabilities that this...
-
Prove that the identity \(\sigma^{2}=\mu_{2}^{\prime}-\mu^{2}\) holds for any probability density for which these moments exist.
-
If a random variable has the standard normal distribution, find the probability that it will take on a value (a) between 0 and 2.3 ; (b) between 1.22 and 2.43 ; (c) between -1.45 and -0.45 ; (d)...
-
The nozzle of a mixing vibrator is tested for its number of vibrations. The vibration frequency, for each nozzle sample, can be modeled by a normal distribution with mean 128 and standard deviation...
-
Explain how political risk may be assessed by a company considering foreign direct investment and identify the policies and strategies that it could use to mitigate the risk.
-
A routine activity such as pumping gasoline can be related to many of the concepts studied in this text. Suppose that premium unleaded costs $3.75 per gal. Work Exercises in order. Use the...
-
What are the three sources to which behavioral geneticists attribute individual differences in behavior?
-
Given the highly competitive nature of the restaurant industry, individual companies cautiously guard operating information for individual outlets. As a result, there is not any publicly available...
-
Antitrust statutes in the United States have been used to attack monopolization by big business. Does labor monopolization by giant unions have the same potential for the misallocation of economic...
-
Is the number of isocost, isorevenue, or isoprofit lines in a typical two input bounded feasible space limited?
-
An investment offers the following cash flows: $554 today, $182 one year from now, $482 in 2 years, and $793 in 3 years. If the relevant interest rate is 7% per year (an APR, with interest compounded...
-
What is the internal rate of return (IRR) for a project that costs $5,500 and is expected to generate $1,800 per year for the next four years? If the firm's required rate of return is 8 percent, what...
-
Assume B Corporation has $375,000 of Ordinary Income from its operations, $75,000 of interest received from its investments on bonds from Z firm. Also, it received $50,000 of dividends from a...
Study smarter with the SolutionInn App