An actual cost is ________.
A) is the cost incurred
B) is a predicted or forecasted cost
C) is anything for which a cost measurement is desired
D) is the collection of cost data in some organized way by means of an accounting system

Question

Quizplus · Accepted Answer

Actual cost refers to the expenses that have been incurred by an organization in the course of its operations. It is the real cost that has been paid for goods, services, labor or any other expense. Actual cost is generally determined by recording transactions in the accounting system of the organization.

An Actual Cost Is ________