Which of the following would be shown on a firm's accounting statement?
A)revenue, implicit costs, explicit costs, and economic profit
B)revenue, implicit costs, explicit costs, and accounting profit
C)revenue, explicit costs, and economic profit
D)revenue, explicit costs, and accounting profit
E)revenue, implicit costs, and accounting profit

Question

Quizplus · Accepted Answer

Accounting statements typically only show revenue, explicit costs (such as salaries, rent, and materials), and accounting profit (revenue minus explicit costs). Implicit costs and economic profit are not typically included on accounting statements.

Which of the Following Would Be Shown on a Firm's