Answer:
C. $21,000
Explanation:
Economic profit is accounting profit less implicit cost or opportunity cost.
Opportunity cost is the next best option forgone when one alternative is chosen over other alternatives.
The next best option for the sole proprietor took is to work at the large firm. Thus her opportunity cost is $35,000.
If the capital wasn't used in setting up the business, it would have earned $22,000. This amount is its opportunity cost.
Total opportunity cost = $22,000 + $35,000 =$57,000
Accounting profit = $78,000 - $57,000 = $21,000
I hope my answer helps you
Brand awareness campaign is the type of campaign that is done by the Jacob in hi physical store as he doing store visits and in-store sales and heard that specialized campaign types can help him meet these kinds of goals.
<h3>What is brand awareness campaign?</h3>
Brand awareness campaign is mostly done to promote the new brand or the unknown brand, which needs exposure to get well placed in the market.
Brand awareness is very useful tool for the company as they promotes the products plus brand name ans make the remark of the brand in customer's mind.
Thus, it is Brand awareness campaign.
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Fashion finance jobs focus on the business side of fashion, especially as it relates to product sales. In this role, you may help manage a relationship with buyer or vendor accounts. You also support the overall budget of your corporation by ensuring positive cash flow and help evaluate the financial value of each type of merchandise your company releases. Many details of this position depend on the company. For example, some fashion companies are global, so people in financial positions may have to coordinate information and activities across many parts of the world. This job is generally similar to financial positions in most other industries.
Option B
Cash flows that could be realized from the best alternative use of an owned asset are called opportunity costs
<u>Explanation:</u>
Opportunity costs describe the gains an individual, investor or firm misses out on when picking one choice over another. Bottlenecks are usually a basis of opportunity costs. Analyzing opportunity costs can lead you to extra effective decision-making. Opportunity cost investigation also performs a vital role in preparing a business's capital structure.
Opportunity cost cannot forever be completely quantified at the time when a decision has arrived. Alternatively, the person performing the decision can only approximately predict the consequences of various dilemmas
Answer:
The Journal entry is as follows:
On December 31st, 2021
Cash surrender value A/c Dr. $3,000
Insurance expense A/c Dr. $17,000
To cash A/c $20,000
(To record the payment of the insurance premium)
Working note:
Increase in cash surrender value of the policy:
= $15,000 - $12,000
= $3,000
Insurance expense:
= Annual premiums - Increase in cash surrender value of the policy
= $20,000 - $3,000
= $17,000