Which of the Following Statements Is (Are) True

question 101

Multiple Choice

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 of these are true.
• D) None of these are true.

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Definitions:

Monopolistic Competitor

a firm that operates in a market with many competitors, each offering a product that is similar but not identical.

Minimum ATC

The lowest point on the Average Total Cost curve, indicating the most efficient scale of production for minimizing costs.

Monopolistic Competitors

Firms operating in a market structure characterized by a high number of sellers offering differentiated products.

Brand Name

A distinctive name identifying a product, service, or company, often acting as a signifier of quality and reliability.