1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
lutik1710 [3]
3 years ago
15

Kevin has $20 to spend on summer clothes. He is looking at shirts, shorts, and flip-flops. Shirts are $10, shorts are $15, and f

lip-flops are $10. He buys one shirt because he thinks that buying the shirt is worth the opportunity cost of the shorts and the flip-flops. Which statement best evaluates his reasoning?
Kevin has analyzed the situation well. He purchased a shirt and that purchase cost the opportunity of buying the shorts or flip flops.
Kevin was wrong in his analysis. He has confused opportunity costs with trade-offs by thinking of both of the lost items as opportunity costs.
Kevin was wrong in his analysis. The opportunity cost consists of more than the shorts and flip-flops. It also includes other choices he could have made with the $10.
Kevin has analyzed the situation well. However, he should also consider the fact that he saved $10 by only purchasing the shirt.
Business
1 answer:
Elan Coil [88]3 years ago
7 0
<span>Kevin has analyzed the situation well. However, he should also consider the fact that he saved $10 by only purchasing the shirt.

Opportunity cost is the cost of the forgone alternative. Out of the 3 choices, he only purchased 1 of the choices, the opportunity cost are the other two choices. However, he is still capable of buying the flip-flops costing $10 but he chose not to do so. He should consider it as a savings aside from it being a lost opportunity.</span>
You might be interested in
Monte Vista uses the perpetual inventory system. At the beginning of the quarter, Monte Vista has $44,000 in inventory. During t
Akimi4 [234]

Answer:

The answer is $18,810

Explanation:

Cost of goods sold equal:

Beginning or opening inventory plus purchases minus ending or closing inventory.

Monte Vista returned some inventories and also took advantage of discount. So this will reduce the cost of total purchases for the quarter.

Total purchase = new purchases minus purchase returns minus any discount enjoyed.

So total purchase is now:

$10,000 - $1,350 - $340

=$8,310

Therefore cost of goods sold is:

$44,000 + $8,310 - $33,500

=$18,810

4 0
3 years ago
Melanie Gollick, nursing floor manager for Scripps Memorial Hospital La Jolla, says, "It’s the personality and being able to mes
ipn [44]

Answer:

The correct answer is b) Be able to use his or her skills.

Explanation:

Melanie Gollick believes that employees must be able to develop and use their skills to perform work in the hospital. But the use of these skills will depend on the personality of each person and the way they adapt to carry out group work.

Skills refer to a set of skills that each person presents, this ability may be different for each person, for example, a person who works in the health area in a hospital needs to be among their skills, work under pressure, follow instructions, empathy, adaptation, group work, among others.

<em />

<em>I hope this information can help you.</em>

5 0
3 years ago
A debit memorandum decreases which account on the
NeX [460]

It is indicating that an account balance decreased as a result of a reason other than a cash withdrawal or cashed check

8 0
2 years ago
Read 2 more answers
If you put $700 in a savings account with a 10% nominal rate of interest compounded monthly, what will the investment be worth i
aksik [14]
<span>To find the compound interest of an investment you have to use this formula, A = P(1 + r/n)^nt, where A is the total amount you have after the investment period, P is the amount you invest or the amount you put in, r is the rate of the of the compound interest in this case 10%, n is the amount of time the interest will be compounded for example, 4 months a year(quarterly) or 6 months a year(semi annually), and t is the amount of time you invest in years. So in this case you are going to substitute everything in the formula with their given value. So P = $700, r = 10%, n = 21 (because it is the number of months we invest for), and t = 2 years (because 21 months fit perfectly in 2 years, and t must always be in years). The resulting formula will be A = $700(1 + 0.1/21)^(21 x 2), which will give you an answer of $855 rounded to the nearest dollar.</span>
8 0
2 years ago
For the budget period ending December 31 of the current year, Aaron Corporation estimates its ending balances for cash as $4,000
jek_recluse [69]

Answer:

The amount of total current assets that will be reported on the budgeted balance sheet is $40,000.

Explanation:

Total current assets

= Cash + Accounts receivable + Finished goods inventory + Raw materials inventory

= $4,000 + $16,000 + $12,000 + $8,000

= $40,000

Therefore, The amount of total current assets that will be reported on the budgeted balance sheet is $40,000.

3 0
3 years ago
Other questions:
  • Suppose an initial investment of $80 will return $30/year for three years (assume the $30 is received each year at the end of th
    8·1 answer
  • An entrenpeneur knits sweaters for sale. The entrenpeneur has fixed costs of $100. When he makes 10 sweaters in one month, he mu
    7·1 answer
  • _ occur(s) in large companies that have excess resources such as equipment and employees. Organizational slack Unlimited boundar
    7·1 answer
  • Which of the following is NOT true of capital productivity? a. Changing the way a firm handles inventory to reduce capital expen
    11·1 answer
  • Secured debt means a lender gives you money in exchange for what?
    6·1 answer
  • A company borrowed 10,000 by signing a 180-day promissory note 9%.the total interest due on the maturity date is: (use 360 days
    11·1 answer
  • What are personal, property, and liability risks? What are examples of personal, property, and liability risk?
    5·1 answer
  • The following labor standards have been established for a particular product:
    12·1 answer
  • An agreement exists when one party offers a certain bargain to another party.
    6·1 answer
  • The December 31, 2020 balance sheet of Barone Company had Accounts Receivable of $400,000 and a credit balance in Allowance for
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!