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inysia [295]
3 years ago
11

The opportunity cost of a decision is measured in terms of

Business
1 answer:
Neko [114]3 years ago
5 0

Answer:

4. the next best thing given up. the price of a new opportunity that arises.

Explanation:

The opportunity cost is the cost we incurr when we choose something instead of other alternatives. To put it more simply: it the cost of the alternatives that we give up when we choose something.

For example, suppose I have $1,000 and have two options: 1) putting the money on a savings account that pays 2% annual interest 2) buying and Iphone X.

If I put the money on the savings account, the opportunity cost is the lack of enjoyment that and Iphone X would have provided me.

And if I bought the Iphone X, the opportunity cost would be the lack of interest earned on the deposit.

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The following note transactions occurred during the year for Towell Company: Nov. 10 Towell issued a 90-day, 9% note payable for
Pani-rosa [81]

Answer: See explanation

Explanation:

The general journal entries necessary to adjust the interest accounts at December 31 will be:

1. December 31:

Debit: Interest Expenses = $8,000 × 9% × 51/ 360 = $102

Credit: Interest payable = $102

(To accrue interest expenses for the note issued on November 10).

2. December 31:

Debit: Interest Expenses = $12,000 × 10% ×30/360 = $120

Credit: Interest payable = $120

(To accrue interest expenses for the note issued on December 1)

3. December 31:

Debit: Interest Expenses = $12,000 × 10% × 11/360 = $36.67

Credit: Interest payable = $36.67

(To accrue interest expenses for the note issued on December 20).

3 0
2 years ago
What does neglect include
labwork [276]

Answer:

The failure to provide adequate supervision, health care, clothing, or housing, as well as other physical, emotional, social, educational, and safety needs.

4 0
3 years ago
Abbott Company uses the allowance method of accounting for uncollectible accounts. Abbott estimates that 4% of credit sales will
OverLord2011 [107]

Answer:

$3760

Explanation:

Calculation to determine the December 31 balance in Bad Debt Expense

Using this formula

Bad debt expense = Credit sales × Uncollectible percentage

Let plug in the formula

Bad debt expense= $94,000 × 4%

Bad debt expense= $94,000 × 0.04

Bad debt expense= $3760

Therefore the December 31 balance in Bad Debt Expense will be $3760

8 0
2 years ago
The first step in creating a budget is to identify your expenses. true or false.
sergij07 [2.7K]

The answer is True. Hope this helps


5 0
3 years ago
Read 2 more answers
Freddie's Food Service uses QuickBooks Desktop. They do not track or sell inventory. They have regular customers that they want
azamat

Answer:

Customize reports

Review recurring transactions

Set up and implement an online bill pay service

Explanation:

Considering the situation described above, after converting to QuickBooks Online, the 3 setup and customization steps that are appropriate for this client are the following:

1. Customize reports: this includes forms and reports and, if possible to memorize reports.

2. Review recurring transactions: this is to restore desktop QuickBooks memorized transactions.

3. Set up and implement an online bill pay service: this is done either through Intuit Online Payroll or QBOP.

4 0
3 years ago
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