Consider two ways of looking at the profit of a business: an increase in the book wealth
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Consider two ways of looking at the profit of a business: an increase in the book wealth of the company; and the net result of the company’s trading operations (revenue less expenses). What do these terms mean, and is the result different using the two approaches?
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Looking at profit from the perspective of an increase in the book wealth of the company refers to the profit measured as the change in the companys ne...View the full answer
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