About this document
Understanding Opportunity Cost Accounting by Ralph Josh Rojas is a document available to read on EtoBox.
The document defines and compares different types of costs: - Opportunity costs refer to the return forgone from the second best use of limited resources. Implicit costs like opportunity costs are not recorded as cash outlays. - Explicit costs are actual payments made for factors of production that are clearly reported. - Accounting costs include explicit costs and some implicit costs recorded on a firm
- Author
- Ralph Josh Rojas
- Language
- EN