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Which of the following accurately explains how profit is calculated?

  • Question 1a of 10 - Profit

  • Maximum Attempts: 1
  • Question Type: Multiple Choice
  • Maximum Score: 2
  • Question: Which of the following accurately explains how profit is calculated?
  • Answers:
  1. Total retail sales are determined.
  2. Costs are subtracted from revenues.
  3. Benefits and costs are balanced.
  4. Gross domestic product is calculated.

The correct answer is: Costs are subtracted from revenues. Profit is revenue minus costs.

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