Which of the Following Statements Is FALSE

question 249

Multiple Choice

Which of the following statements is FALSE?

• A) A correct measure of a firm's economic cost includes both accounting and opportunity cost.
• B) The accounting profit earned by a firm will always be the same as its economic profit.
• C) The major difference between accounting and economic profit is that accounting profit does not reflect the opportunity cost of using resources.
• D) The accounting profit of a firm is its total revenue minus total explicit costs.

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Definitions:

Health and Wellness

The holistic state of being in good physical and mental health, often pursued through balanced diet, regular exercise, and stress management.

Mainstream U.S. Culture

The set of shared beliefs, values, customs, behaviors, and artifacts that the members of society use to cope with their world and with one another, which are transmitted from generation to generation through learning.

Hispanics

An ethnic group consisting of people of varied racial ancestries who identify with the cultures connected to Spanish language and heritage.

Marketing Strategy

A comprehensive plan formulated by a business or organization to reach potential consumers and turn them into customers of their products or services.