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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
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.
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