Answered Essay: Accounting involves a lot of trade-offs. List the two main options under the measurement principle an

3. Accounting involves a lot of trade-offs. List the two main options under the measurement principle and briefly discuss the trade-ofis between the two options

Accounting involves a lot of trade-offs. List the two main options under the measurement principle and briefly discuss the trade-offs between the two options.

Expert Answer


A technique of reducing or forgoing ine or more desirable outcomes in exchanges for increasing or obtaining other desirable outcomes in order to maximize the total return or effectiveness under given circumstances.

Usage example:

When reviewing multiple opportunities with limited resources,companies frequently compare the trade-off each and select the opportunities that will yield the highest perform the others, or to perform them as a latter time.

We may find that there is a trade-off to good investment that may cause negative effects in other ways.

Risk/reward trade-off:-

Direct relationship between possible risk and possible reward which holds for a particular situation. To realize greater reward one must generally accept a greater risk and vice versa. Also called ad risk/ return trade off.

Implicit cost:-

The costs associated with an actions trade-off. It is related to explicit costs,which represents the actual costs of an activity, and represents a cost that is not recorded instead implied. For example, not paying rent on the self owned property(called implicit rent) is an implicit cost because rent is a tax deductible expense but implicit rent is not.

Strategic trade-off:-

Substitution of one strategic priority for another. Substitution of one interim priority for another is a tactical trade-off.

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