-Refer to Table 3-5

question 86

Multiple Choice

-Refer to Table 3-5. What is the opportunity cost of one car for Japan?

• A) 1/4 airplane
• B) 1/3 airplane
• C) 3 airplanes
• D) 4 airplanes

---

Definitions:

Purchased

Acquisition of goods or services in exchange for money or its equivalent.

Required

Mandatory or necessary conditions or items specified for a particular purpose or activity.

Adjusting Entry

A journal entry made in accounting records at the end of an accounting period to allocate income and expenses to the period in which they actually occurred.

Fees Earned

Income received from providing services, a form of revenue for professionals and businesses engaged in service activities.