If Your Tuition Is $5,000 This Semester, Your Books Cost

question 47

Multiple Choice

If your tuition is $5,000 this semester, your books cost $600, you can only work 20 rather than 40 hours per week during the 15 weeks you are taking classes and you make $15 per hour, and your room and board is $3,000 this semester (same as if not attending college) , then your opportunity cost of attending college this semester is

• A) $5,600.
• B) $5,900.
• C) $10,100.
• D) $11,600.

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Definitions:

Managerial Accounting

Refers to the process of identifying, measuring, analyzing, interpreting, and communicating information for the pursuit of an organization's goals.

Objective

A specific, measurable, achievable, relevant, and time-bound goal that drives strategic and operational planning.

Internal Users

Internal users are individuals within an organization, such as management and employees, who use financial information to make decisions about the operations and future direction of the company.

External Users

Individuals or organizations outside of a company who have an interest in the company's financial information, such as investors, creditors, and regulatory bodies.