The time used to study economics instead of to shop at the mall is an example of an opportunity cost
Indicate whether the statement is true or false
T
Business
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________ means responding to risk by not taking a risky action
A) Risk reduction B) Risk acceptance C) Risk avoidance D) Risk transference
Business
Amir Designs purchased a one-year liability insurance policy on March 1st of this year for $5,400 and recorded it as a prepaid expense. Which of the following amounts would be recorded for insurance expense and prepaid insurance during the closing process at the end of Amir's first month of operations on March 31st?
A) $5,400. B) $540. C) $450. D) $500.
Business