Mika's Manicures Leases a Space in the Local Mall for $4,500

question 68

Multiple Choice

Mika's Manicures leases a space in the local mall for $4,500 a month.For this business,this expense would be considered an:

• A)explicit cost of $4,500.
• B)implicit cost of $4,500.
• C)explicit cost of $0.
• D)This is neither an implicit or explicit cost;it is a fixed cost of $4,500.

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Definitions:

Convicted

A legal status indicating that a person has been found guilty of a crime by a court or jury.

Actus Reus

Guilty act. The commission of a prohibited act is one of the two essential elements required for criminal liability, the other element is the intent to commit a crime.

Mens Rea

Wrongful mental state or intent. A wrongful mental state is a requirement for criminal liability. What constitutes a wrongful mental state varies according to the nature of the crime.

Arson

The criminal act of deliberately setting fire to property, often with the intent to cause damage or harm.