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A cost that is previously incurred and irreversible is known as?
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∙ 11y ago
opportunity cost
historical cost
Wiki User
∙ 11y ago
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Costs which are ascertained after they have been incurred are known as?
Costs which are ascertained after they have been incurred are know as "Historical Cost".
What is the activity that is thought to cause a cost to be incurred?
The activity that is thought to cause a cost to be incurred is called an
What is the difference between obsolence cost and deteroration cost?
Obsolence cost is that cost which is incurred by company due to obsolence of any assets of business while deteroration cost is the cost which is incurred by small deteroration of any asset of business.
What are the cost drivers which are used in apportioning overheads cost under activity based budgeting?
Cost drivers are activities due to which cost incurred for expample as many time as machines are setup for production as many time machine setup cost will be incurred so matchine setup is cost driver.
Is fixed cost the same as sunk cost?
Sunk cost is that cost which is incurred in past so in decision making process any cost which is incurred in past has no effect on future events and due to which all fixed cost which are also incurred in past has no effect in future that's why it is not relevent for decision making process, so for decsion making point of view yes fixed cost is sunk cost.
Costs which are ascertained after they have been incurred are known as?
Costs which are ascertained after they have been incurred are know as "Historical Cost".
What is the activity that is thought to cause a cost to be incurred?
The activity that is thought to cause a cost to be incurred is called an
What type of cost is incurred regardless of how much of a good or service is produced?
This type of cost is known as a Fixed Cost: a cost that remains constant, regardless of any change in a company's activity.
What is one purpose of identifying all of the incremental cash flows related to a proposed project?
eliminate any cost which has previously been incurred so that it can be omitted from the analysis of the project
What type of costs is incurred regardless of how much of a good or service is produced?
This type of cost is known as a Fixed Cost: a cost that remains constant, regardless of any change in a company's activity.
Is Standard Cost same as actual cost?
Standard cost is that cost which is budgeted at start of production while actual cost is that cost which actually incurred by business both of them can be same if actual cost incurred is same as allocated or determined in budgeting process using standard cost otherwise there will be difference.
What is the difference between obsolence cost and deteroration cost?
Obsolence cost is that cost which is incurred by company due to obsolence of any assets of business while deteroration cost is the cost which is incurred by small deteroration of any asset of business.
What are the cost drivers which are used in apportioning overheads cost under activity based budgeting?
Cost drivers are activities due to which cost incurred for expample as many time as machines are setup for production as many time machine setup cost will be incurred so matchine setup is cost driver.
What are the objective of a management control system?
profit centre is responsible for a) cost incurred b) total investment c) revenues earned and cost incurred
Is fixed cost the same as sunk cost?
Sunk cost is that cost which is incurred in past so in decision making process any cost which is incurred in past has no effect on future events and due to which all fixed cost which are also incurred in past has no effect in future that's why it is not relevent for decision making process, so for decsion making point of view yes fixed cost is sunk cost.
What does incurred actuals mean?
Incurred Actual normally refers to costs or expenses and their actual value i.e. Incurred actual could be the actual cost of a licence to trade.
What is an appraisal cost?
An appraisal cost is a cost of something which is incurred in assessing that products and services conform to requirements.
