The Figures Below Depict the Production Possibilities Frontiers (PPFs) for Two

question 95

Multiple Choice

The figures below depict the production possibilities frontiers (PPFs) for two people who can allocate the same amount of time between making pizzas and making stromboli. Refer to these figures to answer the questions that follow.

-What is Jim's opportunity cost of making a stromboli?

• A) 1/2 pizza
• B) 2/3 pizza
• C) 2 pizzas
• D) 2 stromboli
• E) 25 pizzas

Identify the myths and realities of international business operations.

Understand the role of strategic alliances in global business expansions.

Grasp the concept of high-context and low-context cultures and its impact on international business communication.

Recognize the significance of patience and commitment in the success of international business ventures.

---

Definitions:

Adjusting Entries

Journal entries made at the end of an accounting period to allocate income and expenditure to the period in which they actually occurred.

Accruals

Accounting adjustments for revenues that have been earned or expenses that have been incurred but not yet recorded through daily entries.

Deferrals

Expenses or revenues that have been recorded but not yet realized. This can involve money that has been received or paid but not yet earned or incurred.

Adjusting Entries

Documentation in accounting completed at the end of a financial period to rightly assign incomes and expenses to the appropriate time.