Some College Students Have Claimed That Because Their Incomes Will

question 249

Essay

Some college students have claimed that because their incomes will be higher as a result of attending college, there is no opportunity cost of attending college.Do you agree? Explain.

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Definitions:

Accounts Receivable

Accounts receivable represents money owed to a business by its customers for goods or services delivered or used but not yet paid for.

Cash

Cash refers to money in the form of currency, including bills, coins, and money deposited in bank accounts that are available for use.

Business Transaction

An economic event or condition that directly changes an entity’s financial condition or directly affects its results of operations.

Journal

A detailed record where all financial transactions of a business are initially recorded in chronological order.