Accounting profit is calculated by subtracting which type of costs from total revenue?

Choose the correct answer

Explanation

Accounting profit is determined by deducting explicit costs, which are direct, out-of-pocket expenses, from total revenue. Implicit costs, variable costs, combined implicit and explicit costs, and marginal costs are not subtracted when calculating accounting profit.

Accounting profit is calculated by subtracting which… — Average And Total Cost | PakQuizHub