Which of the following is incorrect?
A) Accounting profits generally overstate economic profits.
B) Accounting profits do not take opportunity cost into account.
C) Economic costs include not only the accounting costs but also the opportunity costs of the resources used in production.
D) Managers should only be interested in accounting profits.

Question

Quizplus · Accepted Answer

Managers should not only be interested in accounting profits but also economic profits as economic profits take into consideration the opportunity costs which managers should be aware of while making decisions.

Which of the Following Is Incorrect