Accounting profit equals a. explicit costs minus implicit costs ...

[gbarreiro]

Accounting profit equals
 a. explicit costs minus implicit costs
  b. economic profit minus implicit costs
  c. economic profit minus explicit costs
  d. economic profit minus explicit costs and implicit costs
  e. economic profit plus implicit costs

Question 2

Which of the following would not appear on a firm's accounting statement?
 a. sunk costs
  b. fixed costs
  c. explicit costs
  d. implicit costs
  e. insurance costs

[Joy Chen]

Answer to Question 1

E

Answer to Question 2

D

[gbarreiro]

Thanks for the timely response, appreciate it

[mohan]

Excellent