A new business owner decides to do his
taxes himself instead of hiring an
accountant to handle it for him. This
takes 2 days. If he were to hire
the accountant, he could have used
those two days to meet new clients and
bring in more business, which he will
now miss out on. This tradeoff is an
example of:
O Opportunity cost
O Hobson's choice
O Accounting Process Outsourcing
(APO)
O Time Value of Money
O Monetary Value of Time