COST ACCOUNTING
INFORMATION FOR DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Citizens are only allowed to purchase a certain amount of goods
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The cost associated with giving up one thing for another
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Redirecting resources from one source to another
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Using something close to what is actually desired
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Detailed explanation-1: -verb. When organizations reallocate money or resources, they decide to change the way they spend the money or use the resources.
Detailed explanation-2: -A second important source of efficiency improvement is the reallocation of resources from less productive toward more productive sectors. A notable example is the migration of labor and capital from agriculture to manufacturing, from light industries to HCIs, and from rural to urban areas.
Detailed explanation-3: -verb. To divert money or resources means to cause them to be used for a different purpose.
Detailed explanation-4: -A resource is a physical material that humans need and value such as land, air, and water. Resources are characterized as renewable or nonrenewable; a renewable resource can replenish itself at the rate it is used, while a nonrenewable resource has a limited supply.