Answer: Opportunity cost of returning to college next year is $1,000,000.
Explanation: Opportunity cost is the cost of the next best alternative sacrificed or foregone. When the athlete chooses to join college he is sacrificing his income that could be earned from playing the game. The player has the option of playing for the minor league baseball team for $1,000,000 or for European professional football team for $500,000. The person thus has a choice between playing for the minor league baseball team (since it is the highest paying) or going to college. Thus the opportunity cost of going to college will be $1,000,000.
A project team that operates with a full-time project manager as a separate unit from the rest of the organization is structured as a ________ organization.
A. Functional
B. Balanced matrix
C. Weak matrix
D. Strong matrix
E. Project
A project team that operates with a full-time project manager as a separate unit from the rest of the organization is structured using<u> Project organization.</u>
Answer: Option E
<u>Explanation:</u>
Projectized or Project organization as the name suggests, focus on the projects and various process related to those projects. Project organization is different from the rest of the organizations in a sense that it works as a separate unit.
In this type of organizational structure the project manager is on the top and he is the sole decision maker regarding all the projects. The rest of the team members report to the project manager, whereas the roles and responsibilities are divided amongst the members.
Answer: Option C
Explanation: Foreclosure is something that occurs if the mortgage is not paid by a borrower. In fact, it is a judicial process through which the person relinquishes all ownership rights.
If the owner is unable to settle off the outstanding loans or sell property through a short sale, then the estate will go to an exchange for foreclosure. If the estate does not sell then, it will be taken over by the lender.
When a lender loans you money without any collateral (credit card debt, for instance), it can take you to court for failure to pay, but it can be very hard to collect money from you.
Lenders often sell this sort of debt to outside collection agencies for pennies on the dollar and write off the loss. This is considered an “unsecured loan.”
Answer:
- The entries in VLC's accounting information system to record all the preceding events will include all of the following except:
C. A credit togross profit
Explanation:
An entry to Gross Profit does not exist because the gross profit it's the result of the total sales minus the Cost of Goods, so the Gross Profit it's a result and not a journal entry.
The other entries are used as follows:
A. A debit to cost of goods sold
D. A credit to inventory
B. A debit to delivery expense
A credit to Cash
