Question: select the suitable concept to match the appropriate definition A. Cost B. Direct Cost C. Expense D. Fixed cost help me answer this questions the
Select the suitable concept to match the appropriate definition. Concept 1. 2. 3. 4. 5. Definition Sacrifice of resources. Cost that cannot be directly related to a cost object. Cost that varies with the volume of activity Cost used to compute inventory value according to GAAP. Cost charged against revenue in a particular accounting period. Cost that can be directly related to a cost object. Past, present, or near-future cash flow. Lost benefit from the best forgone alternative. Cost that can more easily be attributed to time intervals. Cost that does not vary with the volume of activity. Cost that is part of inventory. 6. 7. 8. 9. 10. 11. Exercise 2-29 (Static) Basic Concepts (LO 2-1, 2, 5) Select the suitable concept to match the appropriate definition. Concept 1. 2. 3. 4. . . 5. Definition Sacrifice of resources. Cost that cannot be directly related to a cost object. Cost that varies with the volume of activity. Cost used to compute inventory value according to GAAP. Cost charged against revenue in a particular accounting period. Cost that can be directly related to a cost object. Past, present, or near future cash flow. Lost benefit from the best forgone alternative. Cost that can more easily be attributed to time intervals. Cost that does not vary with the volume of activity. Cost that is part of inventory 6. 7. 8. 9. 10. 11
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