Question

All of the following are included in the calculation of accounting profit EXCEPT which of option?

Choose 1 answer:
А
variable costs
B
total revenue
explicit costs
implicit costs
fixed costs


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Answer 1

Implicit costs

Explanation:

Accounting profit is known as the profit during accounting.

The formula given by

• Accounting profit=Total revenue -Explicit cost

Hence implicit cost is wrong

Answer 2

a

Explanation: