Value added can be defined as:
A)The difference between sales and expenses
B)The difference between the money value of a firm's output and inputs
C)The difference between sales and wages
D)The retained profits

Question

Quizplus · Accepted Answer

Value added is the difference between the money value of a firm's output and inputs. It is a measure of a company's contribution to the economy and represents the value created by a company through its production process. Options A, C, and D do not accurately describe the concept of value added.

Value Added Can Be Defined As