Which of the Following Is Not Part of the Opportunity

question 42

Multiple Choice

Which of the following is not part of the opportunity cost of going on holiday? The money you

• A)spent on a theatre show.
• B)could have made if you had stayed at home and worked.
• C)spent on airline tickets.
• D)spent on another opportunity.

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Definitions:

Net Income

The profit a company has after deducting all its expenses from its total revenue.

Unit Costs

The cost incurred to produce, purchase, or supply one unit of a product or service, calculated by dividing total costs by the number of units produced or purchased.

Inventory Items

Goods or materials that a business holds for the purpose of sale or production.

Retail Inventory Method

An accounting method used by retailers to estimate inventory cost by using a consistent markup and grouping similar items.