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Question
______ means amount spent on production or to provide services.
Options
cost
profit
revenue
expenditure
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Solution
Cost means amount spent on production or to provide services.
Explanation:
Cost is the amount spent to produce goods or provide services, such as materials, labour, and overheads. It records resources consumed in production, unlike revenue or profit, which relate to income earned.
RELATED QUESTIONS
Write a short note on direct labour cost.
Write a short note on indirect labour cost.
Costs incurred other than on material and labour for production and distribution are called ______.
A typical factory overhead cost is ______.
An example of a production overhead would be ______.
Overhead is actually the total of ______.
All indirect expenses are count under the head of ______.
Which of the following is related to office and administrative overheads?
Cotton used in manufacturing cloth, sugarcane used in producing sugar, rubber used in producing shoes are examples of ______.
Expenses may be direct or ______.
Explain the different elements of cost.
What consist of indirect material, indirect labour, and indirect expenses?
Which of the following is best suited meaning of overhead?
What is indirect labor cost?
What are indirect expenses?
Give an example of indirect expenses.
What do you mean by office and administrative overhead?
