In Terms of Managerial Accounting, What Is the Best Definition

question 126

Multiple Choice

In terms of managerial accounting, what is the best definition of cost?

• A) the equivalent of the cost of goods sold
• B) the asset incurred to produce future benefits
• C) a dollar measure of the cash used to achieve a given benefit
• D) the amount sacrificed for goods expected to bring future benefit to the organization

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Definitions:

Sense Of Initiative

The ability to begin or follow through with a plan or task with independence and confidence.

Emotional Control

The ability to manage and regulate one’s emotions, especially in challenging situations, to achieve adaptive and constructive responses.

Collectivism Outlook

A societal or cultural orientation that emphasizes the group, community, or collective over the individual.

Self-Evaluations

The process through which individuals assess and judge their own behavior, qualities, and attributes.