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Grouping of Items in Statement of Profit and Loss

is an implici...

Question

______ is an implicit cost of production.

A

Wages of the labour

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B

Charges for electricity

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C

Interest on owned money capital

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D

Payment for raw material

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Solution

The correct option is C Interest on owned money capital
Implicit cost is the cost of self supplied factors of production. Hence, interest on owned money capital is implicit cost.

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