The term cost refers to ...

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Costing - Phase (I & II) Basics of Cost Control and Analysis Add to Study Deck

The term cost refers to ________

the present value of future benefits

the value of sacrifice made to acquire goods or services

an asset that has given benefit but now expired

the price of products sold or services rendered

Explanation:

The term cost refers to the value of sacrifice made to acquire goods or services. The price of product sold or services rendered.In accounting, the term cost refers to the monetary value of expenditures for raw materials, equipment, supplies, services, labor, products, etc.