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

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​

Quizplus · Accepted Answer

The accounting statement typically includes revenue, explicit costs, and accounting profit. Implicit costs and economic profit are not usually included in accounting statements.

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