Mention any two examples of implicit …
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Yogita Ingle 6 years, 6 months ago
Implicit cost,on the other hand,refers to the opportunity cost of using the firm’s own resources. These costs are not recorded in the books of account as they deal with the expenditure incurred on the intangible items. These costs are also called ‘economic cost’. For example, imputed value of the services of the owner of the firm, imputed rent of the owner occupied building.
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