Table 26 Table 26 Shows the Number of Labour Hours Required to Produce

question 53

Multiple Choice

Table 2.6
$$\begin{array} { | l | c | c | } \hline & \begin{array} { c } \text { One Digital } \\\text { Camera }\end{array} & \text { Wheat (per kilogram) } \\\hline \text { China } & 100 \text { hours } & 4 \text { hours } \\\hline \text { South Korea } & 60 \text { hours } & 3 \text { hours } \\\hline\end{array}$$ Table 2.6 shows the number of labour hours required to produce a digital camera and a kilogram of wheat in China and South Korea.
-Refer to Table 2.6.What is South Korea's opportunity cost of producing 1 kilogram of wheat?

• A) 60 digital cameras
• B) 20 digital cameras
• C) 5 digital cameras
• D) 0.05 units of a digital camera

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Definitions:

Purpose

The purpose behind why something is done, created, or exists.

Petty Cash Fund

A small amount of cash on hand used for minor or incidental expenses within a business.

Journal Entries

Records of financial transactions within the accounting system of a business, showing the accounts affected and the amounts involved.

Reimburse

To pay back or compensate for money that has been spent or lost.