Use the Following Scenario to Answer the Following Questions

question 9

Multiple Choice

Use the following scenario to answer the following questions:
Esther and Ebenezer produce hamburgers and hot dogs.Esther can produce six hamburgers per hour or four hot dogs per hour.Ebenezer can produce three hamburgers per hour or one hot dog per hour.
-Based on the scenario,Esther's opportunity cost of one hamburger is ________ hot dog(s) .

• A) two-thirds of a
• B) one
• C) six
• D) four
• E) eight

Record business transactions in a two-column journal format, emphasizing the debit and credit system.

Understand the impact of business transactions on the accounting equation.

Classify accounts by their normal balances and activity (debit or credit) during recording business transactions.

Understand and correctly apply the concept of journalizing financial transactions.

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Definitions:

Acid-Test Ratio

A financial ratio that measures a company's ability to pay off its current liabilities with its quick assets, indicating short-term financial strength.

Balance Sheet

A financial statement that displays a company's assets, liabilities, and shareholders' equity at a specific point in time, providing a snapshot of its financial position.

Current Assets

Refers to assets that are expected to be converted into cash or used up within one year or in the operating cycle of the business, whichever is longer.

Current Liabilities

A company's debts or obligations that are due to be paid to creditors within one year.