What term best refers to the opportunity costs of resources already owned by a firm and used
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What term best refers to the opportunity costs of resources already owned by a firm and used in business, such as a clothing manufacturer that uses its own building to produce various clothing items, therefore giving up the opportunity to generate income from renting the building out to another company?
intrinsic costs
explicit costs
implicit costs
unavoidable costs
Related Book For
Management Accounting Information for Decision-Making and Strategy Execution
ISBN: 978-0137024971
6th Edition
Authors: Anthony A. Atkinson, Robert S. Kaplan, Ella Mae Matsumura, S. Mark Young
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