Explicit Costs

question 52

Multiple Choice

Explicit costs

• A) are the only costs that matter to business owners.
• B) usually exceed implicit costs.
• C) are difficult to measure.
• D) appear on the firm's balance sheet.
• E) tend to be less than implicit costs.

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Definitions:

Trade Show

An event or exposition where companies in a specific industry showcase and demonstrate their new products, services, or technologies to potential customers and partners.

Legally Defensible

A term describing a position, policy, or action that can be successfully upheld in a court of law or against legal scrutiny.

Performance Appraisal

A systematic evaluation of an employee's job performance and productivity, usually conducted by their manager or supervisor.

Appeal Procedures

The formal process through which an individual can formally challenge a decision made by an authority, especially within organizational or legal contexts.