What is the difference between cost and expense? a) Cost refers to resources sacrificed to acquire goods or services, while expense refers to res...
What is the difference between cost and expense?
a) Cost refers to resources sacrificed to acquire goods or services, while expense refers to resources consumed to maintain the company's structure.
b) Cost is related to the acquisition of products, while expense is related to administrative and sales activities.
c) Cost is recorded in the balance sheet, while expense is recorded in the income statement.
d) All of the above.
a) Cost refers to resources sacrificed to acquire goods or services, while expense refers to resources consumed to maintain the company's structure.
b) Cost is related to the acquisition of products, while expense is related to administrative and sales activities.
c) Cost is recorded in the balance sheet, while expense is recorded in the income statement.
d) All of the above.
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