An Accountant Shows an Invoice for a Resource to the Manager

question 357

Multiple Choice

An accountant shows an invoice for a resource to the manager of the firm. They are discussing

• A) explicit costs.
• B) implicit costs.
• C) economic profits.
• D) either explicit costs or implicit costs, but we can't tell without more information.

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Definitions:

PSAT/NMSQT

The Preliminary SAT/National Merit Scholarship Qualifying Test, a standardized test that provides firsthand practice for the SAT and offers the chance to qualify for National Merit Scholarships.

National Merit Scholarship

A prestigious academic competition for recognition and university scholarships that high school students in the United States enter by taking the Preliminary SAT/National Merit Scholarship Qualifying Test.

Education For All Handicapped Children Act

The Education for All Handicapped Children Act was a landmark legislation in the United States that required all public schools accepting federal funds to provide equal access to education for children with physical and mental disabilities.

Least Restrictive Environment

A principle in special education that students with disabilities should be educated to the maximum extent appropriate with peers who do not have disabilities.