Mark and Julie Are Going to Sell Brownies and Cookies

question 220

Multiple Choice

Mark and Julie are going to sell brownies and cookies for their third annual fundraiser bake sale.In 1 day,Mark can make 40 brownies or 20 cookies,and Julie can make 15 brownies or 15 cookies.What is Mark's opportunity cost to produce one brownie?

• A) 1 cookie
• B) 1 brownie
• C) 0.5 cookie
• D) 0.5 brownie

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Definitions:

Journal Entry

A record of a financial transaction in the accounting books of a business or organization.

DR (Debit)

DR, or Debit, represents the left side of a general ledger account and is used to record increases in assets or expenses and decreases in liabilities, equity, and income.

CR (Credit)

An accounting entry that decreases assets or increases liabilities and equity on a company's balance sheet, reflective of the double-entry bookkeeping system.

Tax Expense

The total amount of taxes a company incurs, reflecting both current taxes due and future tax liabilities.