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Anit [1.1K]
1 year ago
15

Opportunity costs are not found in accounting records because they are not relevant to decisions.

Business
1 answer:
Sergio [31]1 year ago
6 0

The following statement "Opportunity costs are not found in accounting records because they are not relevant to decisions" is false.

The opportunity cost is the time spent learning and the money that might have been used for something else. When a farmer decides to grow wheat, there is an opportunity cost associated with not doing so or using the resources in another way (land and farm equipment).

The apparent advantage of not selecting the next best alternative when resources are limited is what is commonly referred to as opportunity cost. Opportunity costs are not just monetary or financial expenses. An opportunity cost is also the real price of missed productivity, time, or any other for-profit gain.

To know more about Opportunity Costs here

brainly.com/question/28347796

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Your friend Scotty informs you that in 2019 he received a tax-free reimbursement of some medical expenses he paid in 2018. Which
DanielleElmas [232]

Answer:

c.Scotty did not itemize deductions in 2018

Explanation:

Itemized deductions can be defined as a form of eligible expenses in which individual taxpayers can claim on federal income tax returns which will in turn reduce their taxable income, and this is said to be often claimable in place of a standard deduction, only in a situation where it is available which is why ITEMIZED DEDUCTIONS are expenses that are allowed by the IRS that can decrease your taxable income because when an individual itemize on his or her tax return, such individual can opt to pick and choose from the multitude of individual tax deductions out there instead of taking the flat-dollar standard deduction.

Therefore based on the Scotty scenario the statements that best explains why Scotty is not required to report the reimbursement in gross income is :Scotty did not itemize deductions in 2018

3 0
3 years ago
Wanda’s will power is 25% in convincing people to vote for her. She needs 50% of the vote to win. Assuming everyone votes, in or
Wittaler [7]

Answer:

34 % of the people must already planning to vote for Wanda

Explanation:

Let there are 100 people in the town

It is given that Wanda will convince 25 % of people vote for her

Now let there are x people who are planning to vote Wanda

Then 100-x people are not planning to vote Wanda

She have to convince 0.25 ( 100-x) people to get 50% of the vote and to win

So 0.25(100-x)+x=50

25+0.75x=50

x = 34

So 34 % of the people must already planning to vote for Wanda

8 0
3 years ago
Clark Company manufactures a product with a standard direct labor cost of two hours at $18.00 per hour. During July, 2,000 units
Butoxors [25]

Answer:

The correct answer is B)$3600 U.

Explanation:

The labor quantity variance is difference between actual hours consumed to produce the product and standard hour that should be taken to produce the product. The detail calculation are given below.

labor quantity variance= Standard rate (Standard quantity - actual quantity)

                                       = 18 (4,000-4,200)

                                        = $ 3,600 un-favorable

Labor quantity variance is un-favorable. Which means more labor cost due to more labor hour comsumed.

5 0
3 years ago
Click to review the online content. Then answer the question(s) below, using complete sentences. Scroll down to view additional
Juli2301 [7.4K]

Answer:

Healthcare practitioners & supporters and Management have highest percentage increase anticipated.

Explanation:

The Healthcare practitioners have most demand in the market is because of the fact that developing countries have higher demand for these jobs and thus they show highest growth.

On the other hand, management is the backbone of the company. We can not imagine a company without management. Hence their is an increased demand in management operations. If the GDP of the country is growing then it means the business is growing and their is increased demand for the management jobs.

The automation will affect most of the difficult jobs and would increase efficiency in the coming future. The occupations that would be affected will be aggriculture production operations.

7 0
3 years ago
A firm is producing an output such that the benefit from one more unit is more than the cost of producing that additional unit.
Burka [1]
Losing they're investment dollars. calculating the cost of production.
5 0
3 years ago
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