ECONOMIC PROFITS Definition

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ECONOMIC PROFITS is the difference between the total revenue and the total opportunity costs.

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DEFERRED TAX ASSETS have an effect of decreasing future income tax payments, which indicates that they are prepaid income taxes and meet definition of assets. Whereas deferred tax liabilities have an effect of increasing future years income tax payments, which indicates that they are accrued income taxes and meet definition of liabilities.

CREDIT LINE is the maximum credit that a customer is allowed.

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