Asked by
Loregie Vargas
on Nov 12, 2024
Verified
Opportunity costs are recorded in the accounts of an organization.
Opportunity Costs
The benefit lost when one alternative is chosen over another, representing the cost of forgoing the next best alternative.
Accounts
This term involves the records that summarize transactions affecting the financial position and operating results of a business.
- Discern and differentiate between already incurred costs and the value of foregone opportunities in contexts requiring decisions.
Verified Answer
KJ
Learning Objectives
- Discern and differentiate between already incurred costs and the value of foregone opportunities in contexts requiring decisions.