_______________ is(are) the cash or cash equivalent value sacrificed for goods and services that are expected to bring a current or future benefit to the organization.
A) Expenses
B) Cost
C) An activity
D) A loss

Question

Quizplus · Accepted Answer

Cost is the cash or cash equivalent value sacrificed for goods and services that are expected to bring a current or future benefit to the organization. Expenses refer to the costs incurred in the normal course of business operations. An activity does not necessarily involve a sacrifice of cash or cash equivalent value. A loss refers to a decrease in assets or increase in liabilities that reduces the company's equity.

_______________ Is(are) the Cash or Cash Equivalent Value Sacrificed for Goods