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3 years ago

Explain the difference between implicit and explicit costs

1 answer:

5 0

Explicit costs are reported in business documents. They are also known as direct costs. Explicit costs result in tangible assets for the company. Some examples are: rent, wages, maintenance. Explicit costs are easier to identify and account for because they leave a paper trail.

Implicit costs can be described as opportunity costs. Implicit costs deal with intangibles and do not leave a paper record. Implicit costs can be time or wasted opportunities, for example. An implicit cost is simply the loss of a possible benefit or asset that didn't occur.

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The following information is for Ayayai Corporation as of December 31, 2017.

Sergeeva-Olga [200]

Answer:

Flint Corporation current assets section of Balance Sheet

Particulars Amount

Cash ($23,500 + 21,100) 43,600

Less: Restricted for plant expansion 23,500 21,100

Trading Securities 9,700

Accounts receivable 73,300

Less: Allowance for bad debts 3,700 69,600

Interest receivables (19,600*7%*9/12) 1,029

Inventories

Finished goods 33,300

Work in Progress 13,000

Raw materials 59,600

Total Current Assets 186,229

4 0

3 years ago

EBay A. is a market because buyers and sellers are brought together to buy and sell. B. cannot function as a market. C. would be

IgorLugansk [536]

Answer:

A. is a market because buyers and sellers are brought together to buy and sell.

Explanation:

The definition of market is that it is a place where sellers of products and services meet with potential buyers. Acording to this definition, Ebay can be considered a market because in this website there are sellers offering different types of products and buyers willing to pay in order to get them.

3 0

3 years ago

Currently, Mucho Dinero is organized into specialized departments such as marketing, finance, production and personnel. These de

GrogVix [38]

Answer:

Functional

Explanation:

Functional groups are formed when people with specialised skills are chosen to work together to achieve a goal. Due to similarity in profession team is cohesive and work harmoniously to meet business targets.

Communication is usually done within the department, when another department head needs information he contacts the department head of the unit to get it.

Each employee reports to one manager, so chain of command is simplified.

5 0

3 years ago

In economic terms, the long-run monetary benefits of doing business in a country are based on the size of the market, the presen

Nana76 [90]

Gross domestic product is one of the factor that aid the long run monetary benefit in business.

<h3>What is Gross domestic product?</h3>

Gross domestic product refer to the the overall monetary or market value of all thecompleted goods and services that is manufactured within a specific country at a period of time.

It is the overall measure of overall domestic production, it help the to know if the country is okay or not.

It help to estimate the size of the economy.

To calculate, GDP

GDP = Consumption + investment+ government spending + net worth.

Therefore, Gross domestic product is one of the factor that aid the long run monetary benefit in business.

Learn more on Gross domestic product from the link below.

brainly.com/question/1383956

3 0

2 years ago

An industry with oligopolistic competition faces falling profits and its sales growth is slow. Demand for individual brands has

viva [34]

Answer: (A) Market maturity

Explanation:

The market maturity is one of the stage in the product life cycle where is basically refers to the sales growth where the product sales growth get increased and then suddenly get slows down.

The market maturity stage is basically known as the longest stage in the product life cycle. In this life cycle stage the organization reaches to the highest level during the demand cycle.

Therefore, Option (A) is correct.

8 0

3 years ago