The resources given up that are expected to bring a current or future benefit to the organization are represented by:
A) Costs
B) Expired costs
C) Expenses
D) Losses

Question

Quizplus · Accepted Answer

Costs are resources that are expected to bring a current or future benefit to the organization but are given up in order to obtain something else. Expired costs refer to costs that have already been incurred and cannot be recovered. Expenses refer to costs that have been incurred and are necessary for the operation of the business, but may or may not directly generate revenue. Losses refer to costs that are incurred but do not generate any benefit or revenue for the organization.

The Resources Given Up That Are Expected to Bring a Current