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Svetllana [295]
3 years ago
6

Which of the following costs is often important in decision making, but is omitted from conventional accounting records? A. Fixe

d cost.B. Opportunity cost.C. Sunk cost.D. Indirect cost.
Business
1 answer:
-Dominant- [34]3 years ago
8 0

The correct option is B - Opportunity Cost

<u>Explanation:</u>

Generally, an opportunity cost is the benefit that you gave up when you pass on that option in favor of another option. For instance, by choosing to purchase furniture instead of taking a vacation comes at the cost of not experiencing the relaxation and fun associated with a vacation. All options have opportunity costs (getting married instead of staying single, investing in school instead of retirement, etc).

Everyone should know that opportunity cost is a very important concept that doesn’t just have its application in economics; you can apply it to all aspects of your daily life. Whether you’re cooking, eating, playing soccer, going to the movies, or hitting the gym, so long as you’re breathing, evaluating the choices you’re presented with is an inevitability, whether conscious of it or not.

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How much is the total consumer spending​
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Depends on the quality and quantity of goods
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A firm produces two goods q1 and q2. for economies of scope to occur, it must be true that:
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For economies of scope to occur it must be true that THE COST OF PRODUCING THE TWO GOODS TOGETHER IS LESS THAN THE COST OF PRODUCING THE GOODS SEPARATELY.
The economy of scope is the proportionate savings that is gained by producing two or more different goods together, when the cost of doing so is less than that of producing each separately.
5 0
3 years ago
Prior to the early twentieth​ century, a worker who was injured on the job could collect damages only by suing his employer. To
soldi70 [24.7K]

Answer:

Wages would fall due to an increase in labor costs.

When the workers compensation laws were not there, the employers only had to worry about one labor cost, that of paying their employees. With the introduction of worker's compensation, they then had to get insurance for their employees as well.

This led to an increase in the costs of labor which meant an increase in production costs and a decrease in profitability. To compensate for this, the employers cut wages in order to be able to pay for both the insurance and wages and still pay the same general amounts they were paying as wages such that their production costs don't rise significantly.

3 0
3 years ago
Shelley wants to cash in her winning lottery ticket. She can either receive eight $100,000 semiannual payments starting today, o
Aleksandr-060686 [28]

Answer:

single-amount payment $925,160

Explanation:

Given data:

Amount $100,000

Rate 6%

interest semi annually 3%

Number of period 5

Lumpsum Payment = A\times {PVAF@ I,n}

                                = A\times {PVAF@ 3\%,5}

calculation for PVAF

PVAF @ I,N =\frac{(1-(1+I)^-N)}{I}

[email protected] 3%,5 = \frac{(1-(1+0.03)^{-5})}{0.03}

                          =4.58

                   

Lumpsum Payment =202000*4.58

                               =925160

6 0
3 years ago
All the long-term debt of a government, including the long-term debt that will be financed by Enterprise Fund revenues, is repor
Studentka2010 [4]

Answer: False

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False.

Long term debt is a debt owed by an economic entity which could either be the inividual, a business or the government and such debts are expected to mature in a period of at least one year.

It should be noted that the long term debt isn't reported in fund level financial statement but rather it's reported in government wide statements.

3 0
4 years ago
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