Which of the Following Accounts Will Only Be Found in the Chart

question 17

Multiple Choice

Which of the following accounts will only be found in the chart of accounts of a merchandising company?

• A) Sales
• B) Accounts Receivable
• C) Inventory
• D) Accounts Payable

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Definitions:

Opportunity Cost

The expense incurred by not selecting the superior alternative available when a different choice is made.

Opportunity Cost

Opportunity cost is the cost of foregoing the next best alternative when making a decision, representing the benefits that could have been gained by choosing the alternative option.

Opportunity Cost

The expense associated with not choosing the second-best option when deciding.

Opportunity Cost

The value of the next best alternative foregone as a result of making a decision.