As a General Rule, When Accountants Calculate Profit They Account

question 80

Multiple Choice

As a general rule, when accountants calculate profit they account for explicit costs but miss:

• A)sunk costs
• B)goodwill costs
• C)operating costs
• D)implicit costs

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Definitions:

Biofilm

A biofilm is a complex aggregation of microorganisms growing on a solid substrate, often encased in a self-produced matrix of extracellular polymeric substances.

Multicellular Organism

Organism composed of interdependent cells that vary in their structure and function.

Pilus

A protein filament that projects from the surface of some prokaryotic cells.

Aerobic Respiration

A process in which organisms convert oxygen and glucose into energy, carbon dioxide, and water.