COST ACCOUNTING
INTRODUCTION TO COST ACCOUNTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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It is sacrificed resource to achieve a specific objective
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Losses
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Cost
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Expenses
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Expenses
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Explanation:
Detailed explanation-1: -Organizations define cost as a resource sacrificed or forgone to achieve a specific objective. It is usually measured as the monetary amount that must be paid to acquire goods or services. An actual cost is the cost actually incurred, as distinguished from a budgeted cost, which is a predicted or forecasted cost.
Detailed explanation-2: -COST-Resources sacrificed or forgone to achieve a specific objective.
Detailed explanation-3: -Cost is a resource sacrificed or foregone to achieve a specific objective, or something given up in exchange.
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