--%>

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 : Bonds payable A form of long-term debt

    A form of long-term debt that appears  in the liabilities section of the balance sheet. A company sells bond as a way to borrow large amount of cash. The buyer pays for the bond and receives regular interest payment, annually or semiannually, for the duration of

  • Q : Significance of partnership deed Why is

    Why is it significant to encompass a partnership deed in writing? Answer: Partnership deed is significant as it is a document stating relationship of each and every

  • Q : Write a short note on Not-for-profit

    Write a short note on Not-for-profit organizations?

  • Q : Illustrations of unethical and

    Write down a brief note on the illustrations of unethical and unacceptable actions?

  • Q : Define Variance Variance : The rate,

    Variance: The rate, amount, extent, or degree of change, or the divergence from a preferred state or characteristic.

  • 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 : Gantt bonus plan under gantt's bonus

    under gantt's bonus plan, no bonus is payable to the worker if is effeciency is less than how much?

  • Q : Cash flows from operating activities

    The first section of the statement of cash-flow. Cash flows from operating activities include transactions (involving cash) that relate to the normal busi- ness activities of the entity. Cash-flows in this section usually involve cash and other current asset or curren

  • Q : Functions explain how the provision of

    explain how the provision of management accounting information can assist the management of a company with planning, controlling, decision making and communicating