You are faced with the following alternative choices on saturday afternoon. you can only do one of these activities. none of these activities will require you to spend any money. choice a: go to the beach. choice b: work out using exercise equipment in your garage. choice c: stay at home and practice playing the drums. it turns out that choice a is your most preferred activity, choice b is your second most preferred activity, and choice c is your least preferred activity. you choose to go to the beach. what is the opportunity cost of your decision to go to the beach?

Suppose the money market is in the liquidity trap and the fed increases the supply of money. individuals would rather hold than because they expect that bond prices can go no

Which of the following pairs is most similar to each other?

Insurance companies have internal controls in place to protect assets, monitor the accuracy of accounting records and encourage operational efficiencies and adherence to policies. these internal controls are generally of two types: administrative controls and accounting controls. administrative controls are the policies and procedures that guide the daily actions of employees. accounting controls are the policies and procedures that delineate authorizations of financial transactions that are done, safeguard assets, and provide reports on the company’s financial status in a reliable and timely manner. internal controls should include both preventative and detective controls. the purpose of preventative controls is to stop problems and errors before they occur. detective controls identify problems after they have occurred. preventative controls are usually more effective at reducing problems, but they also tend to be more expensive. internal controls must be flexible to adjust for changes in laws and regulations in addition to adding new products or modifying current ones. companies must also do regular analyses to ensure that the benefits of implementing the controls are worth their costs. when concerned about paying unwarranted insurance claims which type of control would be useful?