The Most Desired Goods and Services That Are Given Up

question 89

Multiple Choice

The most desired goods and services that are given up in order to obtain something else is the:

• A) Comparative advantage.
• B) Absolute advantage.
• C) Opportunity cost.
• D) Advantage cost.

Comprehend the expectations of top management from HR managers regarding organizational strategy and administrative efficiency.

Understand the concept and implications of employee leasing.

Acknowledge the gender distribution within managerial occupations.

Recognize the key competencies necessary for HR managers and professionals.

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Definitions:

Contra-Asset

An account that is used to reduce the balance of a related asset account, with the most common example being accumulated depreciation.

Contra-Revenue

An account deducted from gross revenue or sales, which includes returns, allowances, and discounts, ultimately affecting the net revenue reported.

Purchases Discount

A reduction in the price of goods a company buys, typically for paying early or within a specified time period.

Accounts Payable

Liabilities owed by a business to its creditors for goods and services purchased on credit, which are due within a short period.