______ are the costs associated with not choosing the other alternative. A. Sunk costs B. Opportunity costs C. Differential costs D. Avoidable costs

Question

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Answer 1

Textbook Question

Chapter 10, Problem 1MC

______ are the costs associated with not choosing the other alternative.

A. Sunk costs

B. Opportunity costs

C. Differential costs

D. Avoidable costs

Expert Solution & Answer

To determine

Introduction:

Business decision-making is a process applied to each decision carried out by the management. It can be performed by identifying business goals and objectives. Business decision-making provides solutions for a problem, comprehensive analysis, deciding the best action course depending upon the analysis.

To choose:

The correct answer for the statement.

Answer to Problem 1MC

The correct option is B.

Explanation of Solution

Explanation for correct answer:

Opportunity Cost are those costs which are associated with the value of the next maximum valued alternative use of that resource.

Explanation for incorrect answer:

A sunk cost is the cost that has already occurred and cannot be avoided. It will not change regardless of the management’s chosen alternative. Differential cost is the difference between the two alternatives in a particular activity. Avoidable cost is the cost that can be eliminated when one alternative is chosen over another.

Thus, the options A, C and Dare not associated with not choosing the other alternative.

Conclusion:

The correct answer is B. Opportunity costs are the costs when one alternative is chosen over another alternative.

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Students have asked these similar questions

_______________ are the costs associated with not choosing the other alternative Sunk costs Opportunity costs Differential costs Avoidable costs

Which of the following costs can be ignored when making a decision?a. Opportunity costs. b. Differential costs. c. Sunk costs. d. Relevant costs.

Which of the following statements is false? (You may select more than one answer.)a. Under some circumstances, a sunk cost may be a relevant cost.b. Future costs that do not differ between alternatives are irrelevant.c. The same cost may be relevant or irrelevant depending on the decision context.d. Only variable costs are relevant costs. Fixed costs cannot be relevant costs.

Answer 2

Textbook Question

Chapter 10, Problem 1MC

______ are the costs associated with not choosing the other alternative.

A. Sunk costs

B. Opportunity costs

C. Differential costs

D. Avoidable costs

Expert Solution & Answer

To determine

Introduction:

Business decision-making is a process applied to each decision carried out by the management. It can be performed by identifying business goals and objectives. Business decision-making provides solutions for a problem, comprehensive analysis, deciding the best action course depending upon the analysis.

To choose:

The correct answer for the statement.

Answer to Problem 1MC

The correct option is B.

Explanation of Solution

Explanation for correct answer:

Opportunity Cost are those costs which are associated with the value of the next maximum valued alternative use of that resource.

Explanation for incorrect answer:

A sunk cost is the cost that has already occurred and cannot be avoided. It will not change regardless of the management’s chosen alternative. Differential cost is the difference between the two alternatives in a particular activity. Avoidable cost is the cost that can be eliminated when one alternative is chosen over another.

Thus, the options A, C and Dare not associated with not choosing the other alternative.

Conclusion:

The correct answer is B. Opportunity costs are the costs when one alternative is chosen over another alternative.

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Answer 3

Textbook Question

Chapter 10, Problem 1MC

______ are the costs associated with not choosing the other alternative.

A. Sunk costs

B. Opportunity costs

C. Differential costs

D. Avoidable costs

Expert Solution & Answer

To determine

Introduction:

Business decision-making is a process applied to each decision carried out by the management. It can be performed by identifying business goals and objectives. Business decision-making provides solutions for a problem, comprehensive analysis, deciding the best action course depending upon the analysis.

To choose:

The correct answer for the statement.

Answer to Problem 1MC

The correct option is B.

Explanation of Solution

Explanation for correct answer:

Opportunity Cost are those costs which are associated with the value of the next maximum valued alternative use of that resource.

Explanation for incorrect answer:

A sunk cost is the cost that has already occurred and cannot be avoided. It will not change regardless of the management’s chosen alternative. Differential cost is the difference between the two alternatives in a particular activity. Avoidable cost is the cost that can be eliminated when one alternative is chosen over another.

Thus, the options A, C and Dare not associated with not choosing the other alternative.

Conclusion:

The correct answer is B. Opportunity costs are the costs when one alternative is chosen over another alternative.

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Answer 4

Textbook Question

Chapter 10, Problem 1MC

______ are the costs associated with not choosing the other alternative.

A. Sunk costs

B. Opportunity costs

C. Differential costs

D. Avoidable costs

Expert Solution & Answer

To determine

Introduction:

Business decision-making is a process applied to each decision carried out by the management. It can be performed by identifying business goals and objectives. Business decision-making provides solutions for a problem, comprehensive analysis, deciding the best action course depending upon the analysis.

To choose:

The correct answer for the statement.

Answer to Problem 1MC

The correct option is B.

Explanation of Solution

Explanation for correct answer:

Opportunity Cost are those costs which are associated with the value of the next maximum valued alternative use of that resource.

Explanation for incorrect answer:

A sunk cost is the cost that has already occurred and cannot be avoided. It will not change regardless of the management’s chosen alternative. Differential cost is the difference between the two alternatives in a particular activity. Avoidable cost is the cost that can be eliminated when one alternative is chosen over another.

Thus, the options A, C and Dare not associated with not choosing the other alternative.

Conclusion:

The correct answer is B. Opportunity costs are the costs when one alternative is chosen over another alternative.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Textbook Question

Answer 6

Textbook Question

Answer 7

Expert Solution & Answer

To determine

Introduction:

Business decision-making is a process applied to each decision carried out by the management. It can be performed by identifying business goals and objectives. Business decision-making provides solutions for a problem, comprehensive analysis, deciding the best action course depending upon the analysis.

To choose:

The correct answer for the statement.

Answer to Problem 1MC

The correct option is B.

Explanation of Solution

Explanation for correct answer:

Opportunity Cost are those costs which are associated with the value of the next maximum valued alternative use of that resource.

Explanation for incorrect answer:

A sunk cost is the cost that has already occurred and cannot be avoided. It will not change regardless of the management’s chosen alternative. Differential cost is the difference between the two alternatives in a particular activity. Avoidable cost is the cost that can be eliminated when one alternative is chosen over another.

Thus, the options A, C and Dare not associated with not choosing the other alternative.

Conclusion:

The correct answer is B. Opportunity costs are the costs when one alternative is chosen over another alternative.

Answer 8

Expert Solution & Answer

To determine

Introduction:

Business decision-making is a process applied to each decision carried out by the management. It can be performed by identifying business goals and objectives. Business decision-making provides solutions for a problem, comprehensive analysis, deciding the best action course depending upon the analysis.

To choose:

The correct answer for the statement.

Answer to Problem 1MC

The correct option is B.

Explanation of Solution

Explanation for correct answer:

Opportunity Cost are those costs which are associated with the value of the next maximum valued alternative use of that resource.

Explanation for incorrect answer:

A sunk cost is the cost that has already occurred and cannot be avoided. It will not change regardless of the management’s chosen alternative. Differential cost is the difference between the two alternatives in a particular activity. Avoidable cost is the cost that can be eliminated when one alternative is chosen over another.

Thus, the options A, C and Dare not associated with not choosing the other alternative.

Conclusion:

The correct answer is B. Opportunity costs are the costs when one alternative is chosen over another alternative.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

To determine

Introduction:

Business decision-making is a process applied to each decision carried out by the management. It can be performed by identifying business goals and objectives. Business decision-making provides solutions for a problem, comprehensive analysis, deciding the best action course depending upon the analysis.

To choose:

The correct answer for the statement.

Answer 12

Answer to Problem 1MC

The correct option is B.

Answer 13

Explanation of Solution

Explanation for correct answer:

Opportunity Cost are those costs which are associated with the value of the next maximum valued alternative use of that resource.

Explanation for incorrect answer:

A sunk cost is the cost that has already occurred and cannot be avoided. It will not change regardless of the management’s chosen alternative. Differential cost is the difference between the two alternatives in a particular activity. Avoidable cost is the cost that can be eliminated when one alternative is chosen over another.

Thus, the options A, C and Dare not associated with not choosing the other alternative.

Conclusion:

The correct answer is B. Opportunity costs are the costs when one alternative is chosen over another alternative.

Answer 14

Ch. 10 - ______ are the costs associated with not choosing...Ch. 10 - Which type of incurred costs are not relevant in...Ch. 10 - The managerial decision-making process has which...Ch. 10 - Which of the following is not one of the five...Ch. 10 - Which of the following is sometimes referred to as...Ch. 10 - Jansen Crafters has the capacity to produce 50,000...Ch. 10 - ______ is the act of using another company to...Ch. 10 - Which of the following is a disadvantage of...Ch. 10 - Which of the following is not a qualitative...Ch. 10 - Which of the following is one of the two...

______ are the costs associated with not choosing the other alternative. A. Sunk costs B. Opportunity costs C. Differential costs D. Avoidable costs

Answer to Problem 1MC

Explanation of Solution

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