Question

what is cost? and cost are Very important in the life​

Answer 1

Answer:

Cost means the price of any product or thing which you have to pay if you want it from anyone else

Answer 2

#answerwithquality

#BAL

Hola mate,

Here is your answer.. :)

In business and accounting, cost is the monetary value that has been spent by a company in order to produce something.

Explanation:

IMPORTANCE :

         Government: Costing helps the government when assessing for income tax or any other such government liabilities. It also helps set industry standards and helps with price fixing, tariff plans, cost control etc. Customers: The main aims of costing are cost control and improvement in efficiency.