Answer:
Explanation:
From the question above;
From the income statement;
1. debit of $37000,
2. Credit of $49000,
The income is $12000, while from the balance sheets,
1. Debit of $85000
2. Credit of $73000,
Income is -$12000,
The net income is $12000 while net loss is also -$12000
Answer:
B) the value of the corn crop
Explanation:
Opportunity cost refers to the value of the sacrifice of what has to be given up in order to select something else. It also refers to what must be sacrificed or given up in order to acquire what we desire.
Economists refer to the opportunity cost of a resource as the value of the next highest valued alternative.
The farmer planted squash which means the opportunity cost will be THE VALUE of the corn crop and not the cost of the corn seeds.
The answer is D. Beef was the most valued source of meat, not pork
