Answer:
True
Step-by-step explanation:
Accounting profit only considers actual revenues and expenses incurred. E.g. I own a small store and sold $300,000 last year and made $40,000 in net profits.
But economic profit also considers opportunity costs. Following the same example, I earned $40,000 by working on my store but lost the wages that I earned form my last job since I quitted to open my own business. That lost salary = $36,000, so my economic profit from operating the store = $40,000 - $36,000 = $4,000