Define opportunity cost.
Question:
Define opportunity cost.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 81% (11 reviews)
Opportunity cost is the con...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Cost Accounting A Managerial Emphasis
ISBN: 978-0136126638
13th Edition
Authors: Charles T. Horngren, Srikant M.Dater, George Foster, Madhav
Question Posted:
Students also viewed these Cost Accounting questions
-
Define opportunity cost. What is your opportunity cost of attending a class at 11:00 a.m.? How does it differ from your opportunity cost of attending a class at 8:00 a.m.?
-
Define opportunity cost and give an example of such a cost in reference to the use of a productive resource.
-
Define the term opportunity cost of time?
-
What is t he principle of motor?
-
In the Thomson model of the atom, the mass of an atom is distributed uniformly throughout its volume in a material analogous to pudding. (a) Calculate the density of the "pudding" of a gold atom that...
-
(a) Do you have a duty of care to warn a stranger on the street of the potential danger of broken glass ahead? (b) Do you have a duty to warn an employee of similar danger at a place of employment?...
-
Assume that Midway Cycles bought and sold a line of mountain bikes during May as follows: Midway Cycles uses the perpetual inventory system. Requirements 1. Compute the cost of ending inventory under...
-
Enter the following data into a spreadsheet and then perform the following tasks: a. Calculate examples of these batch totals: A has total A financial total A record count b. Assume the following...
-
What are the ethical considerations surrounding the imposition of organizational culture on employees, and how can organizations balance the need for cultural alignment with respect for individual...
-
1. The following information is available for the Albert and Allison Gaytor family in addition to that provided in Chapters 16. The Gaytors paid tuition and fees for both Crocker and Cayman to attend...
-
A component part should be purchased whenever the purchase price is less than its total manufacturing cost per unit. Do you agree? Why?
-
Managers should always but inventory in quantities that result in the lowest purchase cost per unit. Do you agree? Why?
-
Let a1 and a2 be linearly independent vectors in R3, and let x be a vector in R2. (a) Describe geometrically Span(a1, a2). (b) If A = (a1, a2) and b = Ax, then what is the dimension of Span(a1, a2,...
-
What are the three types of risk to which projects are exposed? Which type of risk is theoretically the most relevant? Why?
-
Differentiate between spot and forward exchange rates.
-
Describe the pure play and the accounting beta methods for estimating divisional betas.
-
Explain the reasoning behind the bond-yield-plus-judgmental-risk premium approach.
-
What project or set of projects would be in your capital budget if SS and LL were (a) independent or (b) mutually exclusive?
-
An aqueous slurry containing $1.5 \mathrm{lb}_{\mathrm{m}}$ of solid per gallon of liquid is pumped through a filter cloth by a centrifugal pump. If the pump provides a constant pressure drop of $150...
-
The cost curve for the city water supply is C(Q) = 16 + 1/4 Q2, where Q is the amount of water supplied and C(Q) is the cost of providing Q acre-feet of water. (An acre-foot is the amount of water...
-
Coupled Reactions in Biological Systems. The Gibbs energy available from the complete combustion of 1 mol of glucose to carbon dioxide and water is (a) Under biological standard conditions, compute...
-
How can a cost hierarchy lead to a more accurate costing system?
-
What are the strategic consequences of product undercosting and overcosting?
-
Kidman & Associates is a law firm specializing in labor relations and employee-related work. It employs 30 professionals (5 partners and 25 associates) who work directly with its clients. The average...
-
Ralph's existing mortgage has an interest rate of 6 percent and an outstanding balance of $179,950.43. His currently monthly payment on this loan is $1,088.19. Ralph expects to move in 12 months, but...
-
A buyer with a 20-year, $419,000 loan at a 4.25% interest rate has a monthly principal and interest payment totaling $2,594.59. If $1,483.95 is interest, how much is applied toward principal for that...
-
A buyer obtained a 30-year, $205,000 loan with a 5.0% interest rate. How much of the monthly payment is interest?
Study smarter with the SolutionInn App