ECONOMICS

Detailed explanation-1: -A. the present value of future benefits. the value of sacrifice made to acquire goods or services. an asset that has given benefit but now expired. the price of products sold or services rendered.

Detailed explanation-2: -cost, in common usage, the monetary value of goods and services that producers and consumers purchase. In a basic economic sense, cost is the measure of the alternative opportunities foregone in the choice of one good or activity over others. This fundamental cost is usually referred to as opportunity cost.

Detailed explanation-3: -the price of products sold or services rendered.

Detailed explanation-4: -Cost accounting is a form of managerial accounting that aims to capture a company’s total cost of production by assessing the variable costs of each step of production as well as fixed costs, such as a lease expense. Cost accounting is not GAAP-compliant, and can only be used for internal purposes.

Detailed explanation-5: -In accounting, cost which is predicted to be incurred or future cost is known as budgeted cost. A budgeted cost is a forecasted future expense that the company is expected to incur in the future.