When a decision is made among a number of alternatives,the benefit that is lost by choosing one alternative over another is called what?
A) Realized cost.
B) Opportunity cost.
C) Conversion cost.
D) Accrued cost.

Question

Quizplus · Accepted Answer

The benefit that is lost by choosing one alternative over another is called opportunity cost. Therefore, the best choice is option B. Option A, C, and D are incorrect as they do not correctly define the concept of opportunity cost.

When a Decision Is Made Among a Number of Alternatives,the