What are some explicit and implicit costs of attending college? (a) Distinguish between explicit and implicit costs. (b) Give examples of each. Explain what is meant by explicit, implicit, and sunk costs. How are they used to calculate accounting profit and...
True or False: If economic cost > accounting cost then economic profit < accounting profit. True or false? Opportunity cost includes both explicit and implicit costs. All other things constant, higher implicit costs result in lower accounting profit. a. True b. False True or false? Opportunity...
Until recently, markups were embedded in the reported transaction price and not explicitly disclosed. Without explicit disclosure, investors can estimate their markups using executed transaction prices. However, estimating markups imposes information processing costs on investors, potentially creating information...
profit means the total revenues less total costs where the total of implicit and explicit costs is total costs. Accounting profit means total revenues less explicit costs. As the economic profit also consists of the opportunity costs, so it will either be equal or less than the accounting ...
a. explicit b. accounting c. implicit d. economic Profit for a Firm: The profit for a firm may be determined from the perspective of an accountant or economist. The costs are usually categorized into explicit costs and implicit costs to calculate the economic profit...
Accounting information quality of accounting information should be sum of characteristics for explicit and implicit needs are met翻译结果3复制译文编辑译文朗读译文返回顶部 Accounting information quality of accounting information should be sum of characteristics for explicit and implicit needs are met翻译...
This transaction is an actual expense that is recorded in the company's income statement and general ledger. Thus, advertisement expenses are considered explicit expenses. However, when managers invest time in training subordinates, the cost is intangible—there is no cash outflow. Therefore, ...
An explicit cost is an out-of-pocket cost, i.e., payments we make. In other words, when there is an explicit cost, there is a seller and buyer, i.e., there is a transaction. If I have a business and pay my worker wages, those wages are explicit costs. ...
More precisely, higher levels of implicit and explicit prejudices towards sexual minorities and African Americans were observed in tighter states compared to looser states. In tighter states, sexual minorities might be seen as deviating from a heteronormative standard (Horn, 2012) and African Americans...
Implicit costs are harder to measure than explicit ones, which makes implicit costs more subjective. Implicit costs help managers calculate overall economic profit, while explicit costs are used to calculateaccounting profitand economic profit. Examples of Implicit Costs Examples of implicit costs include...