Mike wants to open his own repair shop, and is considering using his savings of $30,000 to get it started. he is currently earning 3 percent interest on his savings. his friend bob calls him and asks to borrow $30,000 to start up a bagel shop: bob offers to pay him 5 percent interest if he loans him the money. if mike were to use the money to open his own repair shop, how can he accurately account for his costs? multiple choice

a. mike must consider the $900 in forgone interest on his savings as an implicit cost
b. mike must consider the $1500 in forgone interest from loaning the money to bob as an implicit cost.
c. mike must consider the $900 in forgone interest on his savings as an explicit cost.
d. mike must consider the $1.500 in forgone interest from loaning the money to bob as an explicit cost.

He set of companies a product goes through on the way to the consumer is called the a. economic utility b. cottage industry c. market saturation d. distribution chain

Exercise 4-6 the following balances were taken from the books of alonzo corp. on december 31, 2017. interest revenue $86,000 accumulated depreciation—equipment $40,000 cash 51,000 accumulated depreciation—buildings 28,000 sales revenue 1,380,000 notes receivable 155,000 accounts receivable 150,000 selling expenses 194,000 prepaid insurance 20,000 accounts payable 170,000 sales returns and allowances 150,000 bonds payable 100,000 allowance for doubtful accounts 7,000 administrative and general expenses 97,000 sales discounts 45,000 accrued liabilities 32,000 land 100,000 interest expense 60,000 equipment 200,000 notes payable 100,000 buildings 140,000 loss from earthquake damage 150,000 cost of goods sold 621,000 common stock 500,000 retained earnings 21,000 assume the total effective tax rate on all items is 34%. prepare a multiple-step income statement; 100,000 shares of common stock were outstanding during the year. (round earnings per share to 2 decimal places, e.g. 1.48.)

Which two of the following are benefits of consumer programs