Cost is:
A) the difference between sales revenue and cost of goods sold.
B) the benefit given up or sacrificed when on alternative is chosen over another.
C) the amount of cash or cash equivalent sacrificed for goods and/or services that are expected to bring a current or future benefit to the organization.
D) the revenue per unit.

Question

Quizplus · Accepted Answer

Cost refers to the amount of money or resources spent on acquiring goods or services that can bring a current or future benefit to the organization. It can be in the form of cash or cash equivalents, which may include expenses such as labor costs, raw materials, and overhead costs. The other options do not provide a comprehensive definition of cost.

Cost Is