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3 years ago

Which best describes an opportunity cost?

Business

2 answers:

12345 [234]3 years ago

4 0

Opportunity cost is giving up an opportunity to do something else when making an economic decision.

olya-2409 [2.1K]3 years ago

3 0

Opportunity cost is best described as below:

Giving up an opportunity to do something else when making an economic decision.

In simple words, when there are two or more options in front of a person while making a decision, and he takes one of them by keeping something in mind and leave the other ones, then he is losing the opportunity of having the other alternative. This losing cost is actually the Opportunity Cost. It is basically the loss of one option while choosing the other one.

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A trust established by your will that becomes effective upon your death is called a(n) ____________ trust.

olga2289 [7]

In most states, a will is often referred to as a "last will and testament". So any trust or transfer at death that involves will is said to be testamentary (from the testament). Choice B is a living trust - which doesn't involve death. Choices C and D can be made while a person is alive.

The answer here is A, a testamentary trust.

5 0

3 years ago

Talks-A-Lot, Inc. sells cell phones to customers and expects that 10% of phones sold will be returned for repair under its warra

Gnom [1K]

Answer:

Product warrant liability to be reported as on 31.12.2021* is $3.124

*The procedures are attached in a microsof excel document.

Explanation:

This amount will be recognized as a liability only if product warranty amount can be rmeasured reliabily and there is probability that there will be an outflow of funds.

Download xlsx

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3 years ago

What is one of the negative effects of globalization?

AfilCa [17]

I believe the answer is B! Let me know if I am right:)

4 0

3 years ago

Prepare journal entries to record the following transactions for a retail store. The company uses a perpetual inventory system a

anzhelika [568]

Answer:

April 2

Merchandise $6,200 (debit)

Accounts Payable : Lyon Company $6,200 (credit)

Purchase of Merchandise on credit from Lyon Company (FOB)

April 3

Accounts Payable : Lyon Company $200 (debit)

Cash $200 (credit)

Payment of Shipping Costs included in the Invoice

April 4

Accounts Payable : Lyon Company $450 (debit)

Merchandise $450 (credit)

Return of unacceptable merchandise to Lyon Company

April 17

Accounts Payable : Lyon Company $5,550 (debit)

Discount Received $111 (credit)

Cash $5,439 (credit)

Settlement of Account with supplier and recognition of discount received

April 18

Merchandise $11,700 (debit)

Accounts Payable : Frist Corp $11,700 (credit)

Purchase of Merchandise on credit from Frist Corp (FOB)

April 21

Accounts Payable : Frist Corp $500 (debit)

Merchandise $500 (credit)

Allowance received from supplier (Frist Corp)

Explanation:

There is some missing transactions for the dates closer to end of April.

However the rest of the journals and their narrations have been prepared. This will help with completing the rest of the transactions.

See journals above.

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3 years ago

An economy in which more effort is devoted to the production of services than to the production of goods is called the:

kirza4 [7]

The economy is the service economy

4 0

3 years ago