Answer:
(c) 7.5 bars, 2/15 shirts
Explanation:
Opportunity cost is simply defined as the next best alternative.
Opportunity cost also refers to the loss of foregone gain which could have resulted had a non chosen option been selected over the chosen option. For instance, the opportunity cost of storing money at home is the average market rate of interest which would've been earned had the same money been invested.
In the given question, the opportunity cost of a t shirt would be :
= 
= 7.5 protein bars
Similarly, the opportunity cost for a protein bar would be:
= 
= 
Thus, the correct option is (c) 7.5 bars, 2/15 shirts
Answer:
C
Explanation:
Im pretty sure its C. Everyone has to sign a lease when renting something
Answer:
The entries to record the transactions are given below.
a. Provide music lessons to students for $7,000 cash.
Debit Cash Asset $ 7000
CreditService Revenue income $ 7000
b. Purchase prepaid insurance to protect musical equipment over the next year for $3,000 cash.
Debit Prepaid Insurance equipment Asset $ 3000
Credit Cash Asset $ 3000
c. Purchase musical equipment for $10,000 cash.
Debit Equipment Asset $ 10,000
Credit Cash Asset $ 10,000
d. Obtain a loan from a bank by signing a note for $10,000
Debit Cash Asset $ 10,000
Credit Notes payable $ 10,000