Forgone contribution of resources, in to revenues because of not using resources, in next best use is classified as
A. in-source cost
B. opportunity cost
C. offshore cost
D. outsource cost
Answer: Option B
Solution(By Examveda Team)
Forgone contribution of resources, in to revenues because of not using resources, in next best use is classified as opportunity cost. Opportunity cost refers to what you have to give up to buy what you want in terms of other goods or services.This Question Belongs to Management >> Management Accounting
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