An accountant's view of profit is the difference between revenue and the cost incurred in generating the revenue. This view is shared by all business owners and the general public.

Question

Quizplus · Accepted Answer

While accountants typically define profit as the difference between revenue and costs, business owners and the general public may have varying interpretations of profit, considering factors like cash flow, investments, and non-monetary benefits.

An Accountant's View of Profit Is the Difference Between Revenue