Ted told Bob, the owner of Bob's Travel Agency that, unless Bob bought 10,000 worth of advertising from him, Ted will circulate false stories in the community that Bob had stolen clients' deposits. No one would be willing to book tours through Bob or make down payments with him. Bob agreed to the contract only because of Ted's threats, which he believed Ted was perfectly capable of carrying out. Bob could rescind this contract with Ted based on
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As a general rule, when accountants calculate profit they account for explicit costs but usually ignorea. certain outlays of money by the firm.b. implicit costs.c. operating costs.d. fixed costs.
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Ted told Bob, the owner of Bob's Travel Agency that, unless Bob bought 10,000 worth of advertising f...
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