One Difference Between Implicit Costs and Explicit Costs Is That

question 83

Multiple Choice

One difference between implicit costs and explicit costs is that:

• A) implicit costs are included in profits that accountants compute, whereas explicit costs are not.
• B) implicit costs are included in economic profits, whereas explicit costs are not.
• C) explicit costs are included in profits that accountants compute, whereas implicit costs are not.
• D) explicit costs are included in economic profits, whereas implicit costs are not.
• E) explicit costs involve opportunity costs, whereas implicit costs involve a monetary transaction.

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