In production, research, retail, and accounting, a cost is the value of money that has been used up to produce something or deliver a service, and cost of butcher box is not available for use anymore. More generalized in the field of economics, cost is a metric that is totaling up as a result of a process or as a differential for the result of a decision. Pros of cost concept in accounting.

In accounting, costs are the monetary value of expenditures for supplies, services, labor, products, equipment and other items purchased for use by a business or other accounting entity. Opportunity cost, also referred to as economic cost is the value of the best alternative that was not chosen in order to pursue the current endeavor—i. In theoretical economics, cost used without qualification often means opportunity cost. The cost concept depicts that an asset must be recorded on the purchase value.