Which of the Following Is an Example of an Implicit

question 345

Multiple Choice

Which of the following is an example of an implicit cost? i) the owner of a firm forgoing an opportunity to earn a large salary working for a Wall Street brokerage firm
Ii) interest paid on the firm's debt
Iii) rent paid by the firm to lease office space

• A) ii) and iii) only
• B) i) and iii) only
• C) i) only
• D) iii) only

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Definitions:

Prewritten Application

A software application that is developed and available for use without the need for custom coding or development.

SDLC

Software Development Life Cycle, a process for planning, creating, testing, and deploying an information system.

Analysis

The detailed examination of elements or structure of something, typically as a basis for discussion or interpretation.

Investigation

The process of inquiring, analyzing, and researching to gather facts and information about a specific subject or activity.