The Following Table Shows the Units of Output a Worker

question 124

Multiple Choice

The following table shows the units of output a worker can produce per month in country A and country B. Country The opportunity cost of a unit of electronics in Country B is

• A) 3 units of food.
• B) 2 units of food.
• C) 5 units of food.
• D) none of these.

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Definitions:

Adjustment

The process of making modifications to financial records or accounts to ensure their accuracy and compliance with accounting principles.

Income Statement Approach

A method of estimating certain account balances within an income statement, focusing on revenues and expenses to indirectly calculate other figures.

Allowance for Doubtful Accounts

A contra-asset account that reduces the total amount of accounts receivable to reflect those that are expected to go uncollected.