Which of the Following Statements Is True

question 241

Multiple Choice

Which of the following statements is true?

• A)Explicit costs always equal implicit costs.
• B)Zero economic profit is a smaller dollar figure than normal profit.
• C)Zero economic profit is a larger dollar figure than normal profit.
• D)Saying that a firm earned zero economic profit is the same as saying it earned normal profit.

---

Definitions:

Fulfillment Process

The sequence of steps taken by a business to complete an order for a customer, including receiving, processing, packing, shipping, and delivery.

Cloud-Based ERP

Enterprise Resource Planning systems hosted on remote servers, offering businesses access to their business-critical applications at any time from any location.

Control

The power to influence or direct people's behavior or the course of events.

Change Management

The process, tools, and techniques used to manage the people side of change to achieve the required business outcome; it involves managing the transition from a current state to a desired future state.