Lecture on An Introduction to Cost Terms and Purposes
Subject: Accounting | Topics:

This lecture paper is prepare on An Introduction to Cost Terms and Purposes. Cost is a resource sacrificed or forgone to achieve a specific objective. A cost object is anything for which a separate measurement of costs is desired. Studying this chapter, you should be able to Define and illustrate a cost object, Distinguish between direct costs and indirect costs, Explain cost drivers, variable costs and fixed costs.

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