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kumpel [21]
3 years ago
9

Your opportunity cost of taking this course is: a. the net benefit of taking this course. b. the net benefit of the activity you

would have chosen if you had not taken the course. c. the cost of the activity you would have chosen if you had not taken the course. d. the tuition you paid for the course.
Business
1 answer:
umka21 [38]3 years ago
5 0

Answer:

Correct option is B.

The net benefit of the activity you would have chosen if you had not taken the course

Explanation:

Your opportunity cost of taking this course is <u>the net benefit of the activity you would have chosen if you had not taken the course </u>

Opportunity cost is what you must sacrifice when you choose an activity. By taking this course, you are sacrificing the benefit you could have obtained from the activity you would have chosen if you had not taken the course.

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An individual in the US wants to buy office equipment from England which costs 2,000 pounds. If the exchange rate is 1pound=$1.9
guajiro [1.7K]

<u>Given:</u>

Cost of the office equipment in pounds = 2000

Value of 1 pound in dollars as per exchange rate = 1.9

<u>To find:</u>

The cost of the office equipment in dollars

<u>Solution:</u>

If 1 pound is 1.9 dollars, then 2000 pounds will be as follows,

\Rightarrow\text{1 pound}\rightarrow\text{1.9 dollars}\\\\ \Rightarrow\text{2000 pounds}\rightarrow1.9\times2000 \text{ dollars}=3800 \text{ dollars}\\\\ \therefore \text{The value will be 3800 dollars}

So, the correct option is Option c, that is $3800.

8 0
3 years ago
If conversion costs are added evenly throughout the production process and the unit have made it 50% of the way through the prod
mestny [16]

Answer: C. 50%

Explanation:

From the above question, If conversion costs are added evenly throughout the production process and the unit have made it 50% of the way through the production process then the percentage completion for conversion costs is 50%

3 0
3 years ago
Data related to the inventories of Mountain Ski Equipment and Supplies is presented below:
guajiro [1.7K]

Answer:

<em>b. $ 90,000.</em>

Explanation:

Net realizable value(Market value) for apparel=Selling price minus associated selling expenses e.g sales commission.

Market value for  Apparel= $ 120,000-(120,000*10%)

                                          =$ 120,000-12,00

Market value for  Apparel =$108,000

Apparel cost=$90,000

The lower of the above costs is $90,000.

Lower of cost or market is one of approaches of valuing and reporting inventory. Ending inventory is usually stated at historical cost. When original cost of the ending inventory is greater than the net realizable value, meaning that the inventory has lost value. The inventory has decreased in value below historical cost, then its carrying value is reduced and reported on the balance sheet. The method for reporting this is called current market value.

4 0
3 years ago
Most resources are nonrenewable, and wants and needs are limited. This is an example of?
dimulka [17.4K]

Answer:

scarcity.

Explanation:

Scarcity can be defined as an economical problem that gives the relationship between non-renewable (limited) resources and the limitless wants and needs of consumers.

Basically, it's very important that producers of goods and services make decisions that would help them on how to efficiently allocate scarce or limited resources, in order to meet the unending requirements, wants and needs of consumers.

In Economics, an example of scarcity is that most of the resources used for the manufacturing of finished goods and services are nonrenewable, and as a result, the wants and needs of the end users or consumers are limited. Thus, economists would advise that economies should decide on what to produce, how to produce, when to produce and for whom to produce due to the finite and limited nature of resources i.e the concept of scarcity.

3 0
2 years ago
Consider the relative liquidity of the following assets:
motikmotik

Answer:

Liquidity of an asset refers to how easily convertible the asset is to cash or so called liquid money.

Most Liquid - A $5 bill

This is already cash so it is the most liquid there is.

Second-Most Liquid  - The funds in a money market account

Funds in a money market account are the second most liquid because most often they can simply be withdrawn from the fund. There might be limits on the number of withdrawals allowed though within a period.

Third-Most Liquid  -  A share in a publicly traded company

A share in a publicly trade company ranks here because to realize the cash, one would need to sell the share first.

Least Liquid - Your house

Your house will be the most difficult of these to liquidate as it will involve a much longer process to eventually get it sold and realize cash. The process will include but will not be limited to, advertising, hiring realtors, inspection etc.

7 0
3 years ago
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