​Accountants and Economists differ in their calculations of profits in that;

A) ​economists consider sunk costs
B) accountants consider implicit costs only
C) accountants consider explicit costs only
D) ​all of the above

Implicit Costs

Non-monetary opportunity costs, such as time or foregone alternatives, not directly accounted for in financial transactions.

Explicit Costs

Direct, out-of-pocket payments for expenses such as wages, rent, and materials, which are easily quantifiable.

Accountants

Professionals who manage financial records, conduct audits, and ensure tax compliance, playing a pivotal role in financial planning and analysis.