Cost
![]() In economics, business, and accounting, a cost is a price paid, or otherwise associated with, a commercial event or economic transaction. ~ ~ ~ ~ ~ ~ ~ ~ ~ ~
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~ ~ ~ ~ ~ ~ ~ ~ ~ ~ Costs are often further described based on their timing or their applicability. ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ Accounting costs (also called historical costs) represent the total amount of money (or the monetary value of goods) spent. It is the amount denoted on invoices and recorded in bookkeeping records. ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ Opportunity cost (also called economic cost) is the value of the best alternative that was not chosen in order to pursue the current endeavour--i.e., what could have been accomplished with the resources expended in the undertaking. It represents opportunities forgone.
Economics: Economics (from the Greek οίκος , 'house', and νομος , 'rule', hence "household management") is a social science that studies the production, distribution, trade and consumption of goods and services. Economics is said to be positive when it tries... Business: Business refers to at least three closely related commercial topics. The first is a commercial, professional or industrial organization or enterprise, generally referred to as "a business." The second is commercial, professional, and industrial activity generally, as in "business continues to evol... Accounting: REDIRECT Accountancy... Cost related Images and Photos (experimental) | ~ Table of Content ~
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~ Related Subjects ~Trade (1) - Consumption (1) - Distribution (1) - Social science (1) - Production (1) - Observation (1) - Normative (1) - Assumption (1) - Goods (1) - Positive (1) - Transaction (1) - Accounting cost (1) - Accounting (1) - Economics (1) - Business (1) -~ Community ~
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