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1. opportunity cost helps us to make a choice on a product depending on priority.
2. it helps in decision making since in economics there are scarce resources
3.it helps to compare relative prices and the benefits of each alternative
4.it helps to make consideration and know the value of the best forgone item
Erwoti answered the question on August 7, 2019 at 11:08
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(ii)...(Solved)
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(iii) Closing stock sh. 220,000
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Record the following transactions that took place in Otiende traders from 21st august to 24th August 2018 in the general journal.
2018
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April 5. Paid transport by cheque ksh. 2,050.
April 7.Bought goods worth ksh.2,500 in cash less 5% cash discount.
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April 13.Bought goods ksh .8400 by cheque.
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May 10...(Solved)
The following information relates to Rose holdings for May 2015.
May 1.Sold goods to Garry at ksh. 660.
May 5.Bought goods from K.N.T.C for ksh. 7500.
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The following transactions took place in the month of July 2018.
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The following balances were extracted from the books of Kasuku traders on 30th June 2018.
The following transactions took place in the month of July 2018.
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