Which of the following statements is true of an opportunity cost? (Only one answer.) A) An...
Which of the following statements is true of an opportunity cost? (Only one answer.)
A) An opportunity cost is a direct cost that a firm pays in order to pursue a new business opportunity.
B) An opportunity cost is the potential benefit of an alternative that a decision maker forgoes when he or she chooses a different alternative.
C) Opportunity costs appear in a firm’s accounting records.
D) Opportunity costs only apply to business decisions.
Homework Answers
Opportunity cost is benefit forgone by choosing the next best alternative.
Answer-An opportunity cost is the potential benefit of an alternative that a decision maker forgoes when he or she chooses a different alternative.
Add Answer to:
Which of the following statements is true of an opportunity
cost? (Only one answer.)
A) An...
Starts Feb 8, 2020 11:59 PM Opportunity costs are the potential benefits a person or company...
Starts Feb 8, 2020 11:59 PM Opportunity costs are the potential benefits a person or company forgoes when choosing one alternative over others. Both business decisions and personal decisions can have opportunity costs. While opportunity costs are measured in terms of monetary impact for cost accounting purposes, in reality, most important decisions have both quantitative and qualitative components.
22. Which of the following statements is (are) true? 1). An asset is a cost that...
22. Which of the following statements is (are) true? 1). An asset is a cost that will be matched with revenues in a future accounting period 2). Opportunity costs are recorded as intangible assets in the current accounting period A. Only (1) is true. B. Only (2) is true C. Both (1) and (2) are true23. Which of the following statements is (are) false? (1). In general, the term expense is used for managerial purposes, while the term cost refers external financial reports. (2). An opportunity cost...
Which of the following statements is true? Group of answer choices Economic profits include opportunity costs....
Which of the following statements is true? Group of answer choices Economic profits include opportunity costs. Economic profits ignore opportunity costs. Accounting profits include all of the opportunity costs. Economists consider sunk costs in their decision making
True or False Answer True or False. I already included it above, you did not have a careful...
True or False
Answer True or False. I already included it above, you did not have
a careful look.
6. The starting point for managerial decisions is monitoring actual operations 7. Desirable employee behaviour can be motivated by trying employee performance evaluation and pay to long term or short term results 8. Organisational information systems only collect accounting information 9. Cost accounting information is used for both management accounting and financial accounting activities 10. Management accounting is the process of...
Question 1 (A) (B) (C) (D) An advantage of centralised decision-making is: Greater effectiveness in volatile...
Question 1
(A)
(B)
(C)
(D)
An advantage of centralised decision-making is: Greater effectiveness in volatile environments More motivated employees Less monitoring of decisions More rapid decision making in all contexts The total amount of variable costs will: Not be affected by relevant range considerations Change proportionately with changes in production activity Increase in per unit cost as production decreases Remain constant within a relevant range of production An opportunity cost can be defined as: A cost incurred when an...
Which of the following statements is true of reserves? Choose the correct answer. A. Only reserves...
Which of the following statements is true of reserves? Choose the correct answer. A. Only reserves that are specifically identified in the Income Tax Act can be deducted in computing net business income for tax purposes. B. Any reserve that can be deducted from GAAP income can also be deducted when computing business income for tax purposes. C. Reserves apply only to GAAP accounting and are not deductible in computing business income for tax purposes. D. Reserves apply only to...
a. Which of the following statements about managerial accounting is true? 1) Managerial accounting information is...
a. Which of the following statements about managerial accounting is true? 1) Managerial accounting information is prepared for external users. 2) Managerial accounting information is a legal requirement. 3) The structure of managerial accounting practice is relatively flexible. 4) There are structured standards of acceptability for managerial accounting. b. Which of the following statements is incorrect with regard to a manufacturing firm? 1) Inventoriable costs include only prime costs. 2) Inventoriable costs include prime costs and manufacturing overhead costs. 3)...
Indicate if the following questions are True or False. Explain “Why” your answer is True or False. It is good to incur high opportunity costs for an activity one is engaged in. Why? Price of elastici...
Indicate if the following questions are True or False. Explain “Why” your answer is True or False. It is good to incur high opportunity costs for an activity one is engaged in. Why? Price of elasticity measures vary along the demand curve. Why? Employing economic cost/profit instead of accounting cost/profit when making business decisions tend to generate more efficient or superior economic results for firms. Why? Firms do not try to maximize their output. Why?
Which of the following statements about explicit costs is true? Select one: a. They are the...
Which of the following statements about explicit costs is true? Select one: a. They are the only costs that matter to business owners b. They usually exceed implicit costs. Oc. They are difficult to measure. O d. They appear on the firm's balance sheet.
QUESTION 2 Which one of the following statements is TRUE? a. An example of an agency...
QUESTION 2 Which one of the following statements is TRUE? a. An example of an agency cost is when an outside investor is only willing to pay less for stock because she thinks the original owner will consume too many perquisites. b. The commission required by the Federal Housing Agency for a small business loan is an example of an agency cost. c. An example of an agency cost is when an attorney hires an expert witness for a trial....
Starts Feb 8, 2020 11:59 PM Opportunity costs are the potential benefits a person or company forgoes when choosing one alternative over others. Both business decisions and personal decisions can have opportunity costs. While opportunity costs are measured in terms of monetary impact for cost accounting purposes, in reality, most important decisions have both quantitative and qualitative components.
True or False
Answer True or False. I already included it above, you did not have
a careful look.
6. The starting point for managerial decisions is monitoring actual operations 7. Desirable employee behaviour can be motivated by trying employee performance evaluation and pay to long term or short term results 8. Organisational information systems only collect accounting information 9. Cost accounting information is used for both management accounting and financial accounting activities 10. Management accounting is the process of...
Question 1
(A)
(B)
(C)
(D)
An advantage of centralised decision-making is: Greater effectiveness in volatile environments More motivated employees Less monitoring of decisions More rapid decision making in all contexts The total amount of variable costs will: Not be affected by relevant range considerations Change proportionately with changes in production activity Increase in per unit cost as production decreases Remain constant within a relevant range of production An opportunity cost can be defined as: A cost incurred when an...
Which of the following statements about explicit costs is true? Select one: a. They are the only costs that matter to business owners b. They usually exceed implicit costs. Oc. They are difficult to measure. O d. They appear on the firm's balance sheet.
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