Which of the following statements concerning costs is incorrect?
A)Costs are treated differently depending on how the information will be used.
B)Out-of-pocket costs include the costs associated with not taking a particular course of action.
C)Any single cost can be classified in more than one way.
D)Costs can be categorized on the basis of relevant or irrelevant costs.

Question

Quizplus · Accepted Answer

Out-of-pocket costs refer to the actual expenses that are incurred as a result of taking a particular course of action, not the costs associated with not taking a particular course of action.

Which of the Following Statements Concerning Costs Is Incorrect