Which of the following would be shown on IBM's accounting statement Revenue, implicit costs, explicit costs, and economic profit Revenue, implicit costs, explicit costs and accounting profit Revenue, explicit costs, and economic profit Revenue, explicit costs, and accounting profit Revenue, implicit costs, and accounting profit

Question

Bryan Hunt

Business

20 July, 20:32

Which of the following would be shown on IBM's accounting statement Revenue, implicit costs, explicit costs, and economic profit Revenue, implicit costs, explicit costs and accounting profit Revenue, explicit costs, and economic profit Revenue, explicit costs, and accounting profit Revenue, implicit costs, and accounting profit

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Miah Best · Answer 1

Answer:Revenue, Explicit costs and Accounting profit

Explanation: An Accounting statement is a report used in giving an overview of the financial state of a business. The report includes the Total Revenue generated by the business in the form of sales and services rendered. Explicit costs which includes purchases, salaries & wages, rental fee and other direct costs incured during the period and the Accounting profit which is simply calculated as revenue less all direct costs and indirect costs incured on the business for a specified period to generate a profit.