Opportunity cost is the loss due to forgoing one opportunity to select another one alternative.
In this case, the forgone alternative is the full-time employment and other expenses for the term when the alternative chosen is to be in school. In this case, room and board expenses remain the same whether in school or working full time and thus not considered. The part-time amount earned while at school is subtracted as it would be compensated be during full time employment.
Therefore;
Opportunity cost = $20,000+$10,000+$1,000-$8,000 = $23,000
Answer and Explanation:
The computation of the net worth statement is shown below:
Assets
Checking account $800
Scooter $2,000
Total assets $2,800 (A)
Liabilities
OWed to jaycee Auto $920
River college $125
Total liabilities $1,045 (B)
Net worth $1,755 (A - B)
When you fill in data based on adjacent cells by dragging the fill handle in Microsoft Excel, the Auto Fill Options<span> button is displayed just below and to the right of your filled selection. When you click the</span>
Auto Fill Options<span> button, a list of options appears that allows you to choose to fill the cells with text or data, and whether or not to include the format of the initial selection or to copy only the format.</span>
You should hire an accountant or bookkeeper as soon as your small business is up and running to assist you in keeping track of sales, costs, payroll, taxes, and other financial details.
The bookkeeper or accountant assists in keeping track of sales, costs, taxes, and other financial details. As soon as you establish a firm, you must engage someone to assist you with business organization and accurate accounting.
Researching rivals, evaluating the legal issues of your sector, taking into account your personal and business finances, being realistic about the risk involved, understanding time, and hiring aid are all recommended as effective initial steps in beginning a business, according to experts.
A business owner should have a certain set of abilities to reduce the risk of financial loss or failure. A successful entrepreneur has to be able to sell, communicate, concentrate, learn, and strategize well. Continuous learning is an essential entrepreneurial talent as well as a highly important life skill.
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