Unlike Implicit Costs, Explicit Costs

question 35

Multiple Choice

Unlike implicit costs, explicit costs

• A)reflect opportunity costs
• B)include the value of the owner's time
• C)are not included in a firm's accounting statements
• D)are actual cash payments
• E)do not change as a firm's output changes

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Definitions:

Cooling Pad

a device used to reduce the operating temperature of electronic devices, notably laptops, by providing additional cooling.

Overheating

The condition of a device or component operating at a temperature above its intended maximum, often leading to malfunction or damage.

Software Development

The methodology of generating ideas, setting specifications, designing, writing code, keeping records, conducting tests, and fixing errors included in the production and maintenance of applications, frameworks, or different software elements.

Project Management

The practice of initiating, planning, executing, controlling, and closing the work of a team to achieve specific goals and meet specific success criteria.