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3 Tutorials that teach Accounting Profit
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Accounting Profit

Accounting Profit

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Author: Catherine Barry
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This lesson will explain Accounting Profit

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Tutorial
Terms to Know
Accounting Profit

Total revenue minus total cost, where total cost includes only explicit costs. TR - TC; TR = price x quantity sold; TC = cost per unit x quantity produced

Formulas to Know
Accounting Profit

P r o f i t space equals space T R space minus space T C

Total Cost (1)

T C space equals space left parenthesis c o s t space p e r space u n i t right parenthesis space X space Q space left parenthesis q u a n t i t y right parenthesis

Total Revenue

T R space equals space P space left parenthesis p r i c e right parenthesis space X space Q space left parenthesis q u a n t i t y right parenthesis