Accounting Profit vs. Economic Profit

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

What is the accounting profit used for?

Create Your Account To Take This Quiz

As a member, you'll also get unlimited access to over 79,000 lessons in math, English, science, history, and more. Plus, get practice tests, quizzes, and personalized coaching to help you succeed.

Try it risk-free
Try it risk-free for 30 days. Cancel anytime
Already registered? Log in here for access

1. What is the economic profit used for?

2. What is another name for implicit costs?

Create your account to access this entire worksheet
A Premium account gives you access to all lesson, practice exams, quizzes & worksheets
Access to all video lessons
Quizzes, practice exams & worksheets
Certificate of Completion
Access to instructors
Create an account to get started Create Account

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
Support