Unlike Implicit Costs, Explicit Costs

question 128

Multiple Choice

Unlike implicit costs, explicit costs:

• A) reflect opportunity costs.
• B) include the value of the owner's time.
• C) are not included in the accounting statement of the firm.
• D) are actual cash payments.

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Definitions:

Herpes Simplex Virus

A virus causing contagious sores, most often around the mouth (HSV-1) or on the genitals (HSV-2).

Oral Antiviral Agent

A medication taken by mouth to prevent or treat viral infections by inhibiting the development of the virus.

Tinea Capitis

A fungal infection of the scalp, commonly known as ringworm, which can cause hair loss and scaling.

Oral Griseofulvin

A medication taken by mouth used to treat fungal infections of the skin, hair, and nails by inhibiting fungal cell growth.