Which of the Following Statements About the Concept of Opportunity

question 187

Multiple Choice

Which of the following statements about the concept of opportunity cost is true?

• A)The opportunity cost of a decision is the cost of all possible alternatives to the good produced.
• B)Many decisions do not involve an opportunity cost.
• C)If you have an economics final and an American history final tomorrow,the opportunity cost of studying five hours for your economics exam is the five hours you cannot study for your history exam.
• D)The opportunity cost of a college education at a school where you have to drive 100 miles per week is the cost and maintenance of owning an automobile to drive to and from school.

Awareness of recent developments and updates within the IFRS framework.

Understand the steps needed for the preparation of financial statements under IFRS for the first time.

Comprehend the challenges and issues caused by diversity in accounting practices across countries.

Understand the FASB-IASB convergence projects and their impact on accounting practices.

---

Definitions:

Token Economy

A behavioral management system in which individuals earn tokens for exhibiting desirable behavior, which can be exchanged for rewards.

Light Exposure Therapy

A treatment method used primarily for seasonal affective disorder (SAD) and certain sleep disorders, involving exposure to artificial light.

Depression

A mood disorder characterized by persistent feelings of sadness, hopelessness, and a lack of interest or pleasure in activities.

Bulimia

An eating disorder characterized by episodes of binge eating followed by compensatory behaviors, such as vomiting or excessive exercise, to prevent weight gain.