Consultant Frank Alvarez recently commented that the mostcommon error made by his clients is ignoring opportunitycosts associated with business decisions. The costs Alvarezwas referring to are:a. Benefits foregone by selecting one course of actionover another.b. The out-of-pocket costs of implementing a particularbusiness decision.c. Costs that make future opportunities possible.d. Costs that have made past opportunities possible.
Consultant Frank Alvarez recently commented that the mostcommon error made by his clients is ignoring opportunitycosts associated with business decisions. The costs Alvarezwas referring to are:a. Benefits foregone by selecting one course of actionover another.b. The out-of-pocket costs of implementing a particularbusiness decision.c. Costs that make future opportunities possible.d. Costs that have made past opportunities possible.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Consultant Frank Alvarez recently commented that the most
common error made by his clients is ignoring opportunity
costs associated with business decisions. The costs Alvarez
was referring to are:
a. Benefits foregone by selecting one course of action
over another.
b. The out-of-pocket costs of implementing a particular
business decision.
c. Costs that make future opportunities possible.
d. Costs that have made past opportunities possible.
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