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Which of the following statements is false?a)Economic costs include the opportunity costs of the resources owned by the firm.b)Accounting costs include only explicit costs.c)Economic profit will always be less than accounting profit if resources owned and used by the firm have any opportunity costs.d)Accounting profit is equal to total revenue less implicit costs.Correct answer is option 'D'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Which of the following statements is false?a)Economic costs include the opportunity costs of the resources owned by the firm.b)Accounting costs include only explicit costs.c)Economic profit will always be less than accounting profit if resources owned and used by the firm have any opportunity costs.d)Accounting profit is equal to total revenue less implicit costs.Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following statements is false?a)Economic costs include the opportunity costs of the resources owned by the firm.b)Accounting costs include only explicit costs.c)Economic profit will always be less than accounting profit if resources owned and used by the firm have any opportunity costs.d)Accounting profit is equal to total revenue less implicit costs.Correct answer is option 'D'. Can you explain this answer?.

Solutions for Which of the following statements is false?a)Economic costs include the opportunity costs of the resources owned by the firm.b)Accounting costs include only explicit costs.c)Economic profit will always be less than accounting profit if resources owned and used by the firm have any opportunity costs.d)Accounting profit is equal to total revenue less implicit costs.Correct answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation. Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.

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