Including both internal and external costs when setting a price for a good or service is an example of ______ cost.

Question

Quizplus · Accepted Answer

Including both internal and external costs when setting a price for a good or service is an example of true cost accounting. True cost accounting involves taking into account all costs associated with a product or service, including hidden costs such as environmental or societal impacts. This can help businesses make more informed decisions about pricing and can encourage more sustainable practices.

Including Both Internal and External Costs When Setting a Price