Answer:
Opportunity Cost:
Opportunity cost can be denied as the benefit a person has received but giving up taking another course of action. In other words, it can be defined as the next best alternative.
Given that the Nike women's store earns a profit in excess of $437,000. The owner of the store pays $18,000 per month as rent. A real estate agent approached the owner and informed her that she could add $7,700 per month to her firm's profits by renting out the portion of her store that she uses as a fitness studio.
From the given question the opportunity cost of continuing to operate the fitness studio within the store is $7,700.
C serve only as investors, as general partners take on all the risk and operation of the company, while limited partners invest their money, but don’t take part in the decisions of the company.
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Answer:
Increases in direct proportion to the number of hours the lawn equipment is operated.
Explanation:
Variable costs refer to those costs which vary or change with the level of production output. Such costs rise as production level increases and fall with decrease in the production level.
Examples of variable costs would include direct labor cost which varies with the number of hours worked, or sales commission which varies w.r.t the volume of sales effected by a salesperson.
In the given case, the cost incurred on gasoline, which is used as fuel for lawn equipment, would be classified as a variable cost if, such cost increases when lawn equipment is operated for more hours or falls when the same equipment is operated for lesser number of hours.
Thus, such costs should increase in direct proportion to the number of hours the lawn equipment is operared, to be classified as a variable cost.
Answer:
True
Explanation:
Risk management culture is a generally acceptable set standards and attributes in the management and mitigation of risk. Supervisors have a core duty in ensuring availability of resources.