(a) Distinguish between out-of-pocket cost and opportunity cost. (b) Explain and illustrate the distinction between 'direct cost'...

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(a) Distinguish between out-of-pocket cost and opportunity cost.
(b) Explain and illustrate the distinction between 'direct cost' and 'indirect cost' specially from the point of view of decision making.

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Cost Accounting

ISBN: 9780070221628

4th Edition

Authors: Jawahar Lal, Seema Srivastava

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Question Posted: Aug 30, 2023 02:06 PM

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(a) Distinguish between out-of-pocket cost and opportunity cost. (b) Explain and illustrate the distinction between 'direct cost'...

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a OutofPocket Cost Outofpocket costs refer to actual monetary payments made for goods services or resources These costs involve tangible cash outflows from the organization Outofpocket costs are expli...View the full answer

Cost Accounting

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