Table 2.4 Table 2.4 Shows the Output Per Week of Two Jewellers

question 161

Multiple Choice

Table 2.4

Table 2.4 shows the output per week of two jewellers, Sabrina and Holly. They can either devote their time to making bracelets or making necklaces.
-Refer to Table 2-4. What is Holly's opportunity cost of making a necklace?

• A)½ of a bracelet
• B)3 bracelets
• C)1 1/3 necklaces
• D)2 necklaces

---

Definitions:

Special Journals

Special journals are accounting journals designed for recording specific types of transactions in a detailed manner, such as sales or purchases, to streamline the accounting process.

General Journal

A basic accounting ledger where all types of transactions are initially recorded, using a double-entry bookkeeping system, before being posted to specific accounts in the general ledger.

Sales Journal

A specialized accounting journal used to record all sales of merchandise on credit.

Accrual Basis

A financial recording technique that documents incomes and expenses as they are incurred or earned, without taking into account the timing of cash transactions.