By Paying Bills Electronically,you Can Delay Payments and Still Ensure

question 62

True/False

By paying bills electronically,you can delay payments and still ensure on-time payment.

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Definitions:

Sunk Cost

A cost that has already been incurred and cannot be recovered, which should not affect future business decisions.

Incremental Overhead

The additional overhead costs incurred as a result of a specific business activity or decision.

Salary Expense

The total amount paid to employees for services rendered during a specific period, usually shown in the income statement.

Opportunity Cost

The value of the best alternative forgone when a choice is made between different options.