Which of the following statements is true of profit and wealth?
A) Profit is money and wealth is savings.
B) Profit is a non-static measure and wealth is a static measure.
C) Profit and wealth are non-circular.
D) Profit and wealth are not related.

Question

Quizplus · Accepted Answer

Profit is a measure of the income earned by a business or individual over a specific period of time, while wealth is the accumulated assets and net worth of a business or individual at a specific point in time. Profit is non-static in the sense that it can fluctuate over time, whereas wealth is more static as it represents a snapshot of a person or business's financial situation at a single point in time.

Which of the Following Statements Is True of Profit and Wealth