Question

6. The resources that have been or must be sacrificed to attain a particular objective is termed as
A. Revenue
B. Cost
C. Profit
D. Investment
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Answer 1

Answer:

(d) Investment.

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Answer 2

Answer:

The resources that have been or must be sacrificed to attain a particular objective are termed as B. Cost

Explanation:

Resources sacrificed for acquiring or fulfilling characteristic objective is understood as cost. Cost is the monetary value that a business has spent to produce a product.

The term cost guides to the monetary value of expenditures for raw materials, equipment, supplies, services, labor, products, etc. It exists an amount that is recorded as an expense in bookkeeping records.

Cost accounting concerns determining fixed and variable costs. Fixed costs exist as expenses that recur each month regardless of the level of production. Examples contain rent, depreciation, interest on loans, and lease expenses.

Direct costs exist connected to producing a good or service. A direct cost contains raw materials, labor, and expense or distribution costs associated with producing a product. The cost can readily be traced to a product, department, or project.

Hence, The resources that have been or must be sacrificed to achieve a special purpose are termed as B. Cost

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