Question

Which of the following is an example of implicit cost? (Choose the correct alternative)

(a) Wages paid

(b) Cost of Raw material

(c) Interest on owner’s capital

(d) None of the above​

Answer 1

Answer:

a)wages paid is the correct answer

Explanation:

The wages paid to labour is an accounting direct cost that must be paid in order for production to take place. Thus it is an explicit cost.

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Answer 2

Answer:

Explanation:

Y