The Cost of Leaving a Championship Soccer Match Before It

question 218

Multiple Choice

The cost of leaving a championship soccer match before it ends is _____, while the cost of staying for the entire match is _____.

• A)the opportunity cost of not seeing the winning goal with two minutes to go; zero-the ticket to the match is already paid so there is no cost
• B)the opportunity cost of not seeing the winning goal with two minutes to go; the opportunity cost of whatever else you could have done during that time
• C)zero-you don't have to pay to leave; zero-the ticket to the match is already paid, so there is no cost
• D)the cost of the ticket; the cost of the ticket

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Definitions:

Retained Earnings

Retained earnings are the portion of a company's net income that is kept within the company instead of being paid out to shareholders as dividends, often used for reinvestment in the business or to pay down debt.

Revenue Accounts

Accounts that track the income generated from the company's primary operations and other activities.

Expense Accounts

Accounts used to track money spent or costs incurred in a company's operation to generate revenue.

Year-End Closing Process

The series of steps taken to close out business accounts at the end of the fiscal year, preparing the books for the next fiscal period.