________ Cost Is Defined as a Cost of Production That

question 90

Multiple Choice

________ cost is defined as a cost of production that does not entail a direct money payment.

• A) An explicit
• B) An implicit
• C) A total
• D) A fixed
• E) A marginal

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Definitions:

Debit

A debit is an accounting entry that increases an asset or expense account, or decreases a liability or equity account, and is reflected on the left-hand side of an accounting ledger.

Liability Accounts

Accounts on a company's balance sheet that represent amounts owed to creditors, including loans, accounts payable, and other financial obligations.

Utilities Expense

Costs incurred for essential services such as electricity, water, gas, and sewage treatment in the operation of a business.

Equity

The residual interest in the assets of an entity after deducting liabilities, representing ownership interest in the company.