A Choice Made by Comparing All Relevant Alternatives Systematically and Incrementally

question 203

Multiple Choice

A choice made by comparing all relevant alternatives systematically and incrementally is

• A) an opportunity cost.
• B) a choice on the margin.
• C) a benefit.
• D) a sunk cost.
• E) a choice made in the social interest.

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Definitions:

Partnership

Business operation legally established for dual or multiple partners to govern and split profits.

Capital Account

In finance, it relates to a financial statement detailing the investment funds brought into and taken out of a company by its owners; in economics, it represents the part of the balance of payments recording net changes in a country’s foreign assets and liabilities.

Statement Of Partners' Equity

A financial document that shows changes in the equity interest of partners in a partnership over a period of time.

Partnership

A statutory business form that includes shared management responsibilities and profit distribution among several individuals.