Which one of the following statements is false? a. Economic profit is less than or equal to
Question:
a. Economic profit is less than or equal to net operating profit.
b. A company that has a high quantity of one type of inventory may incur opportunity costs related to other inventory items in lower quantity.
c. Both service and manufacturing firms often experience opportunity costs.
d. Opportunity costs include a number of out-of-pocket costs.
e. Opportunity costs are difficult to measure.
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The correct answer is D a True Economic profit is the difference b...View the full answer
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Related Book For
Accounting concepts and applications
ISBN: 978-0538745482
11th Edition
Authors: Albrecht Stice, Stice Swain
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