Select the suitable concept to match the appropriate definition.
1. Sacrifice of resources.
2. Cost that cannot be directly related to a cost object.
3. Cost that varies with the volume of activity.
4. Cost used to compute inventory value according to GAAP.
5. Cost charged against revenue in a particular accounting period.
6. Cost that can be directly related to a cost object.
7. Past, present, or near-future cash flow.
8. Lost benefit from the best forgone alternative.
9. Cost that can more easily be attributed to time intervals.
10. Cost that does not vary with the volume of activity.
11. Cost that is part of inventory.
Options:
(A) Cost
(B) Direct Cost
(C) Expense
(D) Fixed Cost
(E) Full absorption Cost
(F) Indirect Cost
(G) Opportunity Cost
(H) Outlay Cost
(I) Period Cost
(J) Product Cost
(K) Variable Cost
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Select the suitable concept to match the appropriate definition. 1. Sacrifice of resources. 2. Cost that cannot be directly related to a ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Which of the following is not a business transaction? a. Erin deposits exist15,000 in a bank account in the name of Erin's Lawn Service. b. Erin provided services to customers earning fees of exist600. c.
Answers (1)
On December 31, Year 1, the Loudoun Corporation estimated that 3% of its credit sales of $112,500 would be uncollectible. Loudoun uses the allowance method of accounting for uncollectible accounts.
Answers (1)
Oceanic Company has 15,000 shares of cumulative preferred 2% stock, $150 par and 50,000 shares of $15 par common stock.
Answers (1)
A bond par value is $1,000 and the coupon rate is 5.3 percent. The bond price was $946.16 at the beginning of the year and $980.41 at the end of the year. The inflation rate for the year was 2.7 percent. What was the bond's real return for the year?
Answers (1)
Explain why the lower of cost or market rule is used to value inventory.
Answers (1)
New Questions in Business
assume that your publicly traded company attempts to be completely transparent about its financial condition, and provides thorough information about its debt, sales, and earnings every quarters.
Answers (1)
A company has budgeted fixed overhead of $1.00 per hour at expected capacity of 5,000 units which has a standard quantity of 2 hours per unit. The company actually produces 5,200 units and incurred total overhead costs of $12,000.
Answers (1)
There are five different ways that we can measure legal (monetary) damages: 1) compensatory, 2) consequential, 3) nominal, 4) punitive, and 5) liquidated. Each of these attempts to estimate some aspect of injury caused by the breach of contract.
Answers (1)
True or False? The differentiation strategy is effective for products that are expensive, luxury consumer goods. It is not effective for common, inexpensive products such as doughnuts.
Answers (1)
First Bank has some question as to the tax-free nature of $9 million of its municipal bond portfolio. This amount is excluded from First Bank's taxable income of $65 million.
Answers (1)