Suppose that you are opening a new music store in your town. How would the government affect your business?

Although most people want maximum attainment of every economic goal, there is the operating reality of ________________________

bixtya [17]

Although most people want to maximum attainment of every economic goals, there is the operating reality of opportunity cost that causes us to give up some of one thing if we want more of another.

<h3>What is Opportunity Cost?</h3>

Opportunity cost is a concept in economics and it refers to the cost of something that has to be given up to enjoy something better. This can be for example the benefits of second best alternatives (when the first best is chosen) or alternative use of something, which is not decided on (the cost of not using land for farming and using it for building a house instead).

It is the amount or benefits an individual or organization get when they choose a particular products over another one.

The advantage could be monetary benefits.

Therefore, we can conclude that Although most people want to maximum attainment of every economic goals, there is the operating reality of opportunity cost that causes us to give up some of one thing if we want more of another.

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8 0

1 year ago

The Greeson Clothes Company produced 25,000 units during June of the current year. The Cutting Department used 6,380 direct labo

ra1l [238]

Answer:

Cutting Department:

Rate variance = 6380*(10.9-11) = -638 Favorable

Time variance = 11*(6380-25000*0.25) = 1430 Unfavorable

Total direct labor cost variance = (6380*10.9)-(25000*11*0.25) = 792 Unfavorable

Sewing Department:

Rate variance = 9875*(11.12-11) = 1185 Unfavorable

Time variance = 11*(9875-25000*0.4) = -1375 Favorable

Total direct labor cost variance =(9875*11.12)-(25000*11*0.4) = -190 Favorable

4 0

3 years ago

According to Fred Luthans and his associates' study of 450 managers, ________ made the largest contribution to the success of ma

dedylja [7]

Answer and Explanation:

A) networking

6 0

3 years ago

In your opinion which causes of work stress, or organizational stressors, are likely to be among the most common experienced by

SIZIF [17.4K]

Answer:

There are four types of organizational stressors: task demands, physical demands, role demands, and interpersonal demands.

For air traffic controllers, task demands are probably the most common organizational stressor that they experience.

Among the task demands, we have the need of quick decisions, critical decisions, and the fact that some information may be incomplete.

The job of an air traffic controller is complex, difficult, requires taking quick, and specially, critical decisions all the time. A bad decision by a traffic controller can be very problematic, and even prove fatal, because of the delicate nature of the job. For all these reasons, air traffic controllers are likely to be subjected to this specific organizational stressor.

7 0

3 years ago

During January, Year 2, Geo entered into the following transactions: Paid $728 on account for utilities that were used during De

MAXImum [283]

Answer:

Geo

1. Journal Entries:

1. Debit Utilities Payable $728

Credit Cash $728

To record the payment of utilities on account.

2. Debit Supplies $488

Credit Cash $488

To record the purchase of supplies for cash.

3. Debit Prepaid Rent $6,100

Credit Cash $6,100

To record the prepayment of rent for 6 six months.

4. Debit Equipment $21,000

Credit Note Payable $21,000

To record the purchase of equipment on account.

5. Debit Cash $16,000

Debit Accounts Receivable $16,500

Credit Services Revenue $32,500

To record the rendering of services for cash and on account.

6. Debit Salaries Expense $7,400

Credit Cash $7,400

To record the payment of salaries for January.

2. T-accounts:

Utilities Payable

Accounts Titles Debit Credit

Cash $728

Cash

Accounts Titles Debit Credit

Utilities payable $728

Supplies 488

Prepaid Rent 6,100

Service Revenue $16,000

Salaries Expense 7,400

Supplies

Accounts Titles Debit Credit

Cash $488

Prepaid Rent

Accounts Titles Debit Credit

Cash $6,100

Equipment

Accounts Titles Debit Credit

Note Payable $21,000

Note Payable

Accounts Titles Debit Credit

Equipment $21,000

Accounts Receivable

Accounts Titles Debit Credit

Service Revenue $16,500

Services Revenue

Accounts Titles Debit Credit

Cash $16,000

Accounts Receivable 16,500

Salaries Expense

Accounts Titles Debit Credit

Cash $7,400

Explanation:

Since the beginning balances were not supplied, the T-accounts are not balanced at the end of the period. Journal entries were prepared to record the daily business transactions for the first time in the accounting system. The entries showed the accounts to be debited and credited respectively.

5 0

2 years ago