Cost Is

question 104

Multiple Choice

Cost is:

• A) the difference between sales revenue and cost of goods sold.
• B) the benefit given up or sacrificed when on alternative is chosen over another.
• C) the amount of cash or cash equivalent sacrificed for goods and/or services that are expected to bring a current or future benefit to the organization.
• D) the revenue per unit.

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Definitions:

Caveat Emptor

A legal principle meaning "let the buyer beware," implying that the buyer assumes the risk regarding quality or condition of the item purchased.

Ladino

A language, also known as Judeo-Spanish, spoken by descendants of Sephardic Jews who were expelled from Spain in 1492.

Central America

A geographical region in the Americas comprised of seven countries located between Mexico and South America.

Eastern Europe

A geographical and cultural region of Europe, traditionally comprising the countries east of Germany and west of the Ural Mountains.