What is the term for the cash or cash equivalent value sacrificed for goods and services that are expected to bring a current or future benefit to the organization?

Question

Quizplus · Accepted Answer

Cost is the term used for 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 cost incurred in the normal course of business operations, while loss refers to the cost incurred due to unforeseen events or circumstances. Activity refers to the actions taken by the organization to achieve its goals.

What Is the Term for the Cash or Cash Equivalent