David Has the Following Information to Evaluate His Current Salary

question 17

Multiple Choice

David has the following information to evaluate his current salary of $62,000 versus total revenues of $110,000 and expenses of $67,000 from starting a new business. How much is the opportunity cost associated with staying at his current job?

• A) $5,000
• B) $43,000
• C) $62,000
• D) $110,000

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Definitions:

Invoice

A paper provided by the seller to the purchaser, listing the items, amounts, and confirmed pricing for goods or services rendered by the seller.

Payment Date

The specific date on which a payment is due or processed.

Cost

The amount of money required to purchase something or to produce a good or service.

Invoice

A document issued by a seller to a buyer that lists goods or services provided and the amount due.