Answered: The salary foregone by a person who…

The salary foregone by a person who quits a job to start a business is an example of a(n) ________. a-opportunity cost b-depreciable cost c-outlay cost d-sunk cost e-irrelevant cost

PAYROLL ACCT.,2019 ED.(LL)-TEXT

19th Edition

ISBN:9781337619783

Author:BIEG

Publisher:BIEG

Chapter6: Analysing And Journalizing Payroll

Section: Chapter Questions

Problem 2QD

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Question

The salary foregone by a person who quits a job to start a business is an example of a(n) ________.

a-opportunity cost

b-depreciable cost

c-outlay cost

d-sunk cost

e-irrelevant cost

Definition Video Definition Accounting method wherein the cost of a tangible asset is spread over the asset's useful life. Depreciation usually denotes how much of the asset's value has been used up and is usually considered an operating expense. Depreciation occurs through normal wear and tear, obsolescence, accidents, etc. Video

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