In Calculating Accounting Profit, Accountants Typically Don't Include

question 483

Multiple Choice

In calculating accounting profit, accountants typically don't include

• A)long-run costs.
• B)sunk costs.
• C)explicit costs of production.
• D)opportunity costs that do not involve an outflow of money.

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Definitions:

Objectivity

The principle or practice of maintaining neutrality and impartiality, avoiding bias or subjective judgment in research, analysis, or reporting.

Observer

An individual who watches or records events or phenomena, often as part of a scientific study or research project.

Pretest and Posttest

Assessment tools used before and after an intervention to measure the effectiveness of that intervention.

Experiments

Methodological approaches and techniques in research designed to test hypotheses under controlled conditions to establish cause-and-effect relationships.