represents a cost that requires a firm to make a cash payment for employing resources O...
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represents a cost that requires a firm to make a cash payment for employing resources O a. An implicit cost O b. An explicit cost C. A resource cost d. An operating cost QUESTION 3 Which of the following represents an explicit cost: O a. Payroll O b. Rent OC. Cost of goods sold O d. All of the above QUESTION 4 Which of the following represents an implicit cost: O a. Foregone rent O b. payroll O C. Cost of goods sold O d. The cost of supplies QUESTION 5 Total revenue minus explicit costs and implicit costs equals: O a. Operating Profit O b. Accounting Profit O C. Economic Profit d. O d. Gross Profit Margin represents a cost that requires a firm to make a cash payment for employing resources O a. An implicit cost O b. An explicit cost C. A resource cost d. An operating cost QUESTION 3 Which of the following represents an explicit cost: O a. Payroll O b. Rent OC. Cost of goods sold O d. All of the above QUESTION 4 Which of the following represents an implicit cost: O a. Foregone rent O b. payroll O C. Cost of goods sold O d. The cost of supplies QUESTION 5 Total revenue minus explicit costs and implicit costs equals: O a. Operating Profit O b. Accounting Profit O C. Economic Profit d. O d. Gross Profit Margin
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1 Option C Resource cost Operating cost is the cost of production Both of these are explicit costs H... View the full answer
Related Book For
Principles of Taxation for Business and Investment Planning 2016 Edition
ISBN: 9781259549250
19th edition
Authors: Sally Jones, Shelley Rhoades Catanach
Posted Date:
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