Which of the following accurately explains how profit is calculated? A. Costs are subtracted from revenues.
B. Gross domestic product is calculated.
C. Total retail sales are determined.
D. Benefits and costs are balanced.
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Which of the following accurately explains how profit is calculated? A. Costs are subtracted from revenues.
B. Gross domestic product is calculated.
C. Total retail sales are determined.
D. Benefits and costs are balanced.
The correct answer is A. Costs are subtracted from revenues.
Profit is calculated by taking the total revenues generated from sales and subtracting the total costs incurred in producing those goods or services. This gives you the net profit, which reflects the financial success of a business. If you have any more questions or need further clarification, feel free to ask!