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,
Answers (1)
Brittany, an accrual basis taxpayer, operates a small distribution business. Her records show the following income items for the year: Sales - paid, $64,000. Sales - unpaid, $2,750. Distributor-of-the-year prize from her supplier of $1,975.
Answers (1)