Accounting Profit vs. Economic Profit


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What is the accounting profit used for?

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1. What is the economic profit used for?

2. What is another name for implicit costs?

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About This Quiz & Worksheet

What is the difference between accounting profit and economic profit? Measure your comprehension by completing the quiz and worksheet any time you want.

Quiz & Worksheet Goals

Take the quiz to check your understanding of:

  • What the economic profit is used for
  • An implicit cost
  • Another name for implicit costs
  • Finding accounting profit
  • What the accounting profit is used for

Skills Practiced

  • Reading comprehension - ensure that you draw the most important information from the lesson on accounting and economic profit differences
  • Distinguishing differences - compare and contrast main topics, such as accounting profit and economic profit
  • Information recall - access the knowledge you have gained about finding the accounting profit

Additional Learning

You can review more about these topics if you gain access to the lesson named Accounting Profit vs. Economic Profit. Thanks to this lesson, you can:

  • Identify the different types of costs
  • Determine how to calculate economic profit
  • Review examples of accounting profit