Accountants Include ________ Costs as Part of a Firm's Costs

question 2

Multiple Choice

Accountants include ________ costs as part of a firm's costs, while economists include ________ costs.

• A) explicit; no explicit
• B) implicit; no implicit
• C) explicit and implicit; implicit
• D) explicit; explicit and implicit

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Definitions:

Well-known Information

Facts, data, or knowledge that is widely recognized, familiar to many people, or commonly accepted.

Sensory Memory

The type or stage of memory first encountered by a stimulus; sensory memory holds impressions briefly, but long enough so that series of perceptions are psychologically continuous.

Visual Stimuli

Any object or event that is seen and elicits a sensory response, potentially influencing behavior or perception.

Auditory Stimuli

Sounds or noises that can elicit a response from the auditory system and can affect human behavior and sensations.