When a Client Has Restructured or Key Personnel Have Changed

question 62

Multiple Choice

When a client has restructured or key personnel have changed functions, they will send out a:

• A)RSVP.
• B)RFP.
• C)RFID.
• D)DOA.
• E)UPC.

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Definitions:

Explicit Costs

These are the direct, out-of-pocket payments made by businesses for operational expenses like wages, rent, and materials.

Monetary Outlay

The amount of money spent on a particular transaction or investment.

Implicit Costs

The opportunity costs that arise when a company uses internal resources without a direct payment.

Explicit Costs

Direct payment made to others in the course of running a business, such as wages, rent, and materials.