________ describes when a resource is consumed or benefit forgone to meet a specific objective.
A) Cost incurrence
B) Locked-in cost
C) Resource utilization
D) Designed-in cost

Question

Quizplus · Accepted Answer

Cost incurrence refers to the resources consumed or benefits that are forgone to achieve a specific objective. This refers to the costs that arise as a result of carrying out an activity or operation. It includes all expenses incurred such as labour, materials, utilities, and rent.

________ Describes When a Resource Is Consumed or Benefit Forgone