Answer:
Opportunity Cost refers to loss of potential gain which could've resulted from other non chosen alternatives when one opts for an alternative. It's also defined as the next best alternative.
The Opportunity Cost of attending a 4 year college with full time schedule & living on campus would be the foregone income another student earns who works in an organization for those same number of hours for the same duration of 4 years and also the fees paid for those 4 years at the college which if would've been banked or invested would've yielded a return.
The reason for choosing a four year college experience over above mentioned alternatives could be the in the form of expected higher income once an individual avails a degree.
Answer:
B.stays with you for life.
Answer:
d) Neither A nor B
Explanation:
Poverty refers to a financial state wherein an individual is unable to meet the most basic needs for survival such as food clothing and shelter.
Absolute poverty refers to a state wherein the income of a household is below a certain threshold level which makes it hard to meet the basic necessities of life such as food, shelter, water and sanitation.
The concept of relative poverty makes a comparison i.e relatively to others. When one is relatively poorer than others. The person in such a scenario may be able to meet his ends but relative to other households income, shall be termed as poor.
Answer:
The amount used in the buyer's accounting records to record this acquisition is $60,000.
Explanation:
Amount in the buyer's accounting records to record this acquisition = Cash paid + Note payable
= $20,000 + $40,000
= $60,000
Therefore, The amount used in the buyer's accounting records to record this acquisition is $60,000.
