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  1. If you want to know whether a company had a profit or a loss during a specific period of time, which financial statement would be most helpful?

statement of owners' equity

cash flow statement

balance sheet

income statement

  1. What is the opportunity cost of an investment?

the combined values of the other opportunities available

the value of the next most valuable opportunity

the marginal benefit of the investment

the volatility of the investment

  1. The costs of running a business are called ___________.

startup costs

cash flow

operating expenses

fixed costs

Verified Answer :

1. Income statement – This is a financial report that tells a business's financial presentation over a particular accounting period.

2. The value of the next most valuable opportunity - the loss of possible gain from other substitutes when one substitute is selected.

3. Operating expenses - expenditures that a business experiences to involve in any doings not straight related with the manufacture of things or services.

Answer:

1. D Income statement

2. B The value of the next most valuable opportunity

3. C.  Operating expenses

Explanation:

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