What is an opportunity cost? How does it differ from a sunk cost?

Question:

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Fundamental Managerial Accounting Concepts

ISBN: 978-0078110894

6th Edition

Authors: Edmonds, Tsay, olds

See More Books

Question Posted: Dec 07, 2011 03:57 AM

See More Questions

What is an RFP, and how does it differ from an RFQ?
What is cost management, and how does it differ from management accounting and cost accounting?
What is sustainable sourcing, and how does it differ from ethical sourcing? From green purchasing?
To load and register a driver, creating a new instance of the Driver class method is better than using the Class.forName() method. (True/False)
Part 1 Mei-ling is struggling to keep up with the recording of her accounting transactions. She is spending a lot of time marketing and selling mixers and giving her cookie classes. Her friend Mike...
Coatmin is a government-controlled bank. Coatmin was taken over by the government during the recent financial crisis. Coatmin does not directly trade with other government-controlled banks but has...
Compare horizontal and vertical software system developments. Which one makes use of components?
The United States Office of Management and Budget (OMB) provides guidance on the allow ability of costs under federal grant agreements in Uniform Administrative Requirements, Cost Principles, and...
If the future value of an ordinary, 6-year annuity is $9,100 and interest rates are 9.5 percent, what's the future value of the same annuity due? (Round your answer to 2 decimal places.)
1. What barriers to entry has Goodyear created or taken advantage of? 2. Goodyear has production facilities throughout the world. What competitive advantages might global production provide Goodyear?...
Carmon Company invested $300,000 in the equity securities of Mann Corporation. The current market value of Carmons investment in Mann is $250,000. Carmon currently needs funds for operating purposes....
A local bank advertises that it offers a free noninterest-bearing checking account if the depositor maintains a $500 minimum balance in the account. Is the checking account truly free?
What molecule does the N stand for, where is it located, and what is its function in the viral life cycle?
What is the best answer: As a top-level manager at your organization, you do your best to maintain decorum at all times. However, one night while you are at a bar with your friends, you have had too...
What is the best answer: You decide to work for an organization because the structure is very loose, and the CEO and managers host weekly sessions to listen to the ideas of all employees. What is...
Describes how creativity, innovation, and leadership are intertwined. Many successful business organizations use creativity and innovation as a leadership strategy to differentiate their organization...
What role does socialization play in the development and maintenance of social structures and hierarchies?
What is culture? What is leadership? What is management? Compare and contrast management and leadership in your post. Describe 3 leadership styles and explain which leadership style you think is the...
You are considering making a movie. The movie is expected to cost $8.8 million upfront and take a year to produce. After that, it is expected to make $4.3 million in the year it is released and $2.1...
According to a recent survey, 40% of millennials (those born in the 1980s or 1990s) view themselves more as spenders than savers. The survey also reveals that 75% of millennials view social...
Inventory/stock is to be shown in the financial statement at (a) Cost or market price, whichever is less (b) Cost or market price, whichever is higher (c) Only at cost (d) Only at market value
(a) How does the payment of dividends of $15,000 affect the three elements of the accounting equation? (b) Is net income affected by the payment of dividends? Explain.
(a) How does the payment of dividends of $15,000 affect the three elements of the accounting equation? (b) Is net income affected by the payment of dividends? Explain.
Assume that Esquire Consulting erroneously recorded the payment of $30,000 of dividends as salary expense. (a) How would this error affect the equality of the accounting equation? (b) How would this...
What is the worst case running time of the following sudo codes, in 0- notation? Suppose that all arithmetic operations (including simple multiplication) take a constant amount of time. Justify your...
4. Let G be a pseudorandom generator with expansion factor (n) > 2n. In each of the following cases, say whether G' is necessarily a pseudorandom generator and explain why or why not. Here, "||...
Write the code for the del () method in the following doubly linked list class public class ObjDList { private Obj Node list; private Obj Node tail; public ObjDList() { list = null; tail = null; }...

What is an opportunity cost? How does it differ from a sunk cost?

Question:

Step by Step Answer:

An opportunity cost is the sacrifice of some benefit revenue...View the full answer

Fundamental Managerial Accounting Concepts

Students also viewed these Managerial Accounting questions