Question

What are examples of explicit cost?A. the amount of money the owner could have made by investing in an alternative activity B. the cost of the business owner’s time and labor paying for gas for a company vehicle C. the amount of money an owner could have made by raising prices paying an employee’s wages

Answer 1

Answer:

B. the cost of the business owner’s time and labor paying for gas for a company vehicle

Explanation:

Explicit cost are known as actual costs. They are costs incurred in the running of a business or in the production process . They are usually reported in the financial statements.

Implicit costs are opportunity costs.