Costs that are not incorporated in accounting records, but are recognized in different situations are classified as
A. congruent costs
B. imputed costs
C. operating costs
D. transfer costs
Answer: Option B
Solution(By Examveda Team)
Costs that are not incorporated in accounting records, but are recognized in different situations are classified as imputed costs. An imputed cost is a cost that is incurred by virtue of using an asset instead of investing it or undertaking an alternative course of action. An imputed cost is an invisible cost that is not incurred directly, as opposed to an explicit cost, which is incurred directly.Related Questions on Management Accounting
A. resourcing
B. value acquiring
C. production
D. value acquaintance
Examining of past performance, exploring alternative and planning future is
A. learning
B. alternating
C. examining
D. deciding
Time that a company takes to create and produce a new product is classified as
A. management factor
B. time factor
C. customer factor
D. chain factor
Purpose of management accounting is to
A. past orientation
B. help banks make decisions
C. help managers make decisions
D. help investors make decision
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