________ are costs that require a monetary payment.
A) Implicit costs
B) Explicit costs
C) Accounting costs
D) Both B and C are correct.

Question

Quizplus · Accepted Answer

Explicit costs and accounting costs both require a monetary payment. Explicit costs are direct payments made to others in the course of running a business, while accounting costs are those recorded in the financial statements, encompassing explicit costs.

________ Are Costs That Require a Monetary Payment