The Cost of Not Doing Something Is A(n)

question 77

Multiple Choice

The cost of not doing something is a(n) :

• A)out-of-pocket cost.
• B)opportunity cost.
• C)direct cost.
• D)cost object.

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Definitions:

Trial Balance

An accounting report that lists all the balances of the general ledger accounts of a company at a particular point in time to check the accuracy of bookkeeping entries.

Source Documents

Original records that provide evidence of financial transactions, such as invoices, receipts, and contracts.

Objective Evidence

Information that can be verified through empirical data, observation, measurement, and other forms of data that are not influenced by personal feelings or opinions.

Ledger

A comprehensive collection of a company's financial accounts, where transactions are recorded using a double-entry bookkeeping system.