Which of the Following Statements Is TRUE

question 216

Multiple Choice

Which of the following statements is TRUE?

• A) Accounting profit is usually smaller than economic profit.
• B) Unlike implicit costs, explicit costs require monetary outlays.
• C) Knowledge about explicit costs is more useful for making business decisions than knowledge about implicit costs.
• D) Implicit costs equal explicit costs for for-profit firms.

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Definitions:

Diseases

Illnesses or medical conditions that impact the body or mind.

Diffusion

The spread of cultural items such as ideas, styles, religions, technologies, languages among people.

Languages

Systems of communication used by particular communities, involving the use of spoken, written, or signed words in a structured and conventional way.

Domestic Sheep

A domesticated mammal typically bred for its wool, meat, and milk, descending from the wild mouflon of Central Asia.