Sodium silicate, commonly known as âwaterglassâ, is prominent due to wide commercial and industrial application. It is often composed of an oxygen-silicon polymer backbone housing water in molecular matrix pores. Sodium silicate products are manufactured as solids or thick liquids, depending on intended use. For instance, waterglass functions as a sealant in metal components. Lastly, although sodium silicate production is a mature industry, there is ongoing research for new applications given its heat conductive properties.
The term 'accounting' profit is quite frequently used by bookkeepers, for it is the actual revenue calculation. On the other hand, economic profit is more of an theoretical estimate. The paragraphs below highlight some differences between economic and accounting profit with examples. Economic Profit. In financial terms, it is not the excess of total accounting income over the total accounting expense. To the cost of an investment, it also adds the opportunity lost cost of another investment option.
(Answer #1). Economic cost is a more comprehensive idea that accounting costs. Accounting costs only include what economists call explicit costs.. These are the amounts that a firm actually pays out to other people in the process of producing their product.ence, the difference between the economic cost and accounting cost is that the economic cost comprises the opportunity cost, while the accounting cost does not. Although the accounting costs are very important to company owners, the economists are mainly focused on economic costs rather than accounting costs.