--%>
Assignment Help - homework help

Define Opportunity Cost

Opportunity Cost: The value of the substitutes foregone by approving a particular strategy or utilizing resources in a particular manner. Al so termed as Alternative Cost or Economic Cost.

   Related Questions in Managerial Accounting

  • Q : Explain Standard Costing Standard

    Standard Costing: A costing technique which joins costs to cost objects based on reasonable approximations or cost studies and by the means of budgeted rates instead of according to actual costs incurred. The predictable cost of gener

    		•
  • Q : Accounting standard Normal 0 false

    Normal 0

  • Q : Provision of management accounting

    What do you mean by the term provision of management accounting information?

    		•
  • Q : Define Common Cost Common Cost : It is

    Common Cost: It is the cost of resources used jointly in the production of two or more outputs and the cost can’t be directly traced to any one of those outcomes.

    		•
  • Q : Business law Hello, I am  Lauren

    Hello, I am Lauren Garcia, i have paid for question, please answer me here. Describe what parts of business law are involved in the following scenario. What issues are in

    		•
  • Q : Chapter 10 Unfocused Books is a

    Unfocused Books is a discount retail bookshop that has three departments: fiction, non-fiction and children’s books. Sales and cost of sales for each department are shown below. In addition, each department has its own fixed costs for staffing and takes a one-third share of rental and management cos

    		•
  • Q : Things which Opportunities comprises

    Write a brief note on the things which Opportunities comprises?

    		•
  • Q : Avoidable interest The amount of

      The amount of interest that an organization would have avoided if it had not made the expenditures for an asset. Avoidable interest is calculated when an entity is self- constructing an asset. The cost of the asset can include material, labor, and overhead plus some interest. The c

    		•
  • Q : Acquisition entry on Balance Sheet 1.

    Q : What find out the size of this loss

    What find out the size of this loss? The size of the deadweight loss is based on the elasticity of supply and demand. As the elasticity of demand increases and the elasticity of supply decreases, that means as sup

    		•