Simplicity and fruitfulness are virtues when it comes to judging

The rules of accounting generally require that ________ be included in a firm's financial records

A) only explicit costs B) both explicit costs and implicit costs C) only implicit costs D) neither explicit costs nor implicit costs

If the nominal interest rate is 5 percent and there is no inflation, _____

a. the real interest rate exceeds 5 percent b. the real interest rate is less than 5 percent c. the real interest rate is 5 percent d. there is not enough information to determine the real interest rate e. the real interest rate is zero