Businesses use copyright, patents, and trademarks, to keep other companies from taking their idea or product. Copying a trademarked or patent product is illegal. (piracy)
The opportunity cost is what you would have purchased with the money you will spend on the concert and what you would have spent your time doing if you did not go to the concert.
How does opportunity cost affect decision making ?
When we take decisions about how to spend our limited resources, such as money or time, we are giving up the opportunity to spend money or time on something else. All individuals, businesses, and large groups of people make decisions that involve trade-offs.
What is the importance of opportunity cost in decision-making?
The concept of opportunity cost is helps in decision-making to individuals and organizations takes better alternatives , primarily by assuming the alternatives. Opportunity costs incorporate the cost and benefit of each choice,that aims at times be challenging to calculate.
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Answer
Answer is c) $73000.
Explanation:
Raw material purchase = Ending material+Material used-Beginning material
= 40000+63500-30500
Raw material purchase = 73000
So answer is c) $73000
Answer: $31200
Explanation:
Based on the information given in the question, the total cost to be assigned to the ending work in process will be:
Material cost = 4800 × $6 = $28800
Conversion cost = 4800 × 25% × $2 = $2400
Therefore, the total cost to be assigned to the ending work in process will be:
= $28800 + $2400
= $31200
Answer:
- fairness,
- honesty,
- integrity
Explanation:
The three most important ethical principles that should guide all organizational activities are fairness, honesty and integrity. Currently we live in a globalized and multicultural business scenario, where there is an intense flow of information and a lot of competitiveness, so it is necessary that organizations seek to adapt their strategic planning to this new reality, where corporate governance is an essential parameter of relationship with a company by many stakeholders.
The fairness, honesty and integrity of the company will help it to maintain an internal environment focused on the development of skills and an organizational culture based on ethics and respect for all employees, regardless of their individual values or hierarchical position. These ethical principles will also help the organization to have a good image in the market, to attract greater reliability and transparency in the processes.