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insens350 [35]
3 years ago
14

Which of the following statements is correct?A. Economists consider opportunity costs to be included in a firm's total revenues.

B. Economists consider opportunity costs to be included in a firm's costs of production.C. Opportunity costs equal explicit minus implicit costs.D. All of the above are correct.
Business
1 answer:
Gre4nikov [31]3 years ago
7 0

Answer:

Option (B) is correct.

Explanation:

Opportunity costs refers to the cost of selecting other alternative which means that the benefit that is sacrificed from the next best alternative. Implicit costs is also known as the implicit costs and economists include this cost to the total cost of production.

Total cost includes both explicit costs and implicit costs. Explicit costs refers to the costs that are incurred for operating business activities.

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The people in the operations department are in charge of managing activities that relates to production of goods and services. Some if their functions are managing operations, embracing design, performance improvement, planning, control, and operations strategy.

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Read 2 more answers
Gwen inherited 100 shares of supershoes stock when her mother died on october 21, 2015; the fair market value of the stock was $
Dafna1 [17]

Answer: Gwen should report a $3,000 long-term capital gain in her income tax return.

In this question the price paid by Gwen’s mother for the shares is irrelevant because of her death.

The stock’s fair market value ($20) when Gwen inherited the shares (21st October 2015) is Gwen stepped up value.

Gwen’s gain from selling the shares is:

Gain / (Loss) = (Selling Price per share - Stepped up value per share) * Number of shares

Gain = (50 - 20) *100

Gain = $3,000

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5 0
3 years ago
Owen Company's unadjusted book balance at June 30 is $9,120. The company's bank statement reveals bank service charges of $50. T
Gala2k [10]

Answer:

$10,070

Explanation:

The true cash balance is the balance having considered the effect of the transactions that have happened but are yet to be captured in the books.

Reviewing the transactions,

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= $10,070

3 0
3 years ago
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