An Example of an Explicit Cost Would Be the Wages

question 65

True/False

An example of an explicit cost would be the wages that a business owner pays her employees.

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Definitions:

Time-Specific

Refers to strategies, actions, or goals that are planned with a particular time frame in mind.

CRM Software

Technology platforms designed to manage a company's interactions with current and potential customers, integrating and automating sales, marketing, and customer support.

Interval Scales

A type of numeric scale where the order of numbers is significant and the difference between values is standardized; however, there is no true zero point.

Forecasting

The process of predicting future trends, demands, or events based on historical data and analysis.