Which of the following is true of an opportunity cost? A. It is the income foregone by not using a resource in an alternative w

Question

3 years ago

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Which of the following is true of an opportunity cost? A. It is the income foregone by not using a resource in an alternative w

ay. B. It is an unavoidable cost that cannot be changed no matter what action is taken. C. The higher the opportunity costs, the lower is the relevant cost. D. It is recorded as an expense in the accounting records.

Business

1 answer:

ahrayia [7] · Answer 1 · 2021-11-28T21:30:37+03:00

Answer:

A. It is the income foregone by not using a resource in an alternative way.

Explanation:

Opportunity cost is the income foregone by not using a resource in an alternative way.

Opportunity cost is refers to the value of what you have to give up in order to choose something else. It can also be called REAL COST.

It also refers to the value or benefits of something that must be given up in order to acquire another thing.

Which of the following is true of an opportunity​ cost? A. It is the income foregone by not using a resource in an alternative w

Which of the following is true of an opportunity cost? A. It is the income foregone by not using a resource in an alternative w