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Essay Details:
Essay text:
Since Frances is better at doing financial statements and at answering phones calls she has absolute advantage in doing both.
Based on the information given I feel Frances can be self sufficient in producing both the financial statements and phones calls so she can be specialized in both. Phil can be self sufficient in producing the phone calls so he can be specialized in just the calls.
Phil makes 8 phone calls per hour and just 1 financial statement so he sacrifices 8 calls for that 1 financial statement. Frances makes 10 phone calls or 4 financial statement so she either sacrifices 10 calls for 4 financial statements or if she makes 4 financial statements she sacrifices 10 calls...
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Common topics in this essay:
- Land of Opportunity
- An Interface Between Financial Accounting And Cost & Management Accounting And Some Concepts Of Strategic Cost Management
- Ccu - The Pisco Opportunity
- E-Commerce Opportunity
- Equal opportunity
- Issues and Opportunity Growth
- Opportunity Cost And The Free Market
- LAND OF OPPORTUNITY
- Opportunity
- equality of opportunity
- comparison of Medtronic's financial statements to Baxter's financial statements
- Equal Opportunity
- The statement of financial performance is based on data relating to past transactions and events. Hence the statement of financial performance is of no use to an investor’s decision making process.
- equal opportunity
- Opportunity Costs
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