In accounting, resources sacrifice for achieving or fulfil specific objective is known as
A. source cost
B. sacrifice cost
C. treated cost
D. cost
Answer: Option D
Solution(By Examveda Team)
In accounting, resources sacrifice for achieving or fulfil specific objective is known as cost. Cost is the monetary value that a company has spent in order to produce a product.Related Questions on Costing
Basic objective of cost accounting is ________
A. tax compliance.
B. financial audit.
C. cost ascertainment.
D. profit analysis.
Process costing is suitable for ________.
A. hospitals
B. oil refing firms
C. transport firms
D. brick laying firms
The cost which is to be incurred even when a business unit is closed is a _____.
A. imputed cost
B. historical cost
C. sunk cost
D. shutdown cost
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