Question

7. Cost and price are interchangeable terms. True or false
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Answer 1

Answer:

Cost and price are interchangeable terms- False

Answer 2

Answer:

FALSE

Explanation:

Cost is typically the expense incurred for creating a product or service a company sells. The cost to manufacture a product might include the cost of raw materials used. Price is the amount a customer is willing to pay for a product or service. The difference between price paid and costs incurred is profit.