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QUESTION 1 Which of the following is an explicit cost? A. RAW MATERIALS B. FORGONE WAGES O C. REDUCTION IN HOME VALUES O D. LOST

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QUESTION 1 Which of the following is an explicit cost? A. RAW MATERIALS B. FORGONE WAGES O C. REDUCTION IN HOME VALUES O D. LOST PROFIT OPPORTUNITIES O E. TIME SPENT IN TRAFFIC QUESTION 2 Which of the following is most likely to be a fixed cost? O A. A LEASE ON A BUILDING O B. STAFF WAGES O C. ALL OF THE ANSWERS ARE CORRECT. O D. TRANSPORTATION EXPENSES O E. RAW MATERIAL COSTS

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