select the incorrect statement concerning opportunity costs-opportunity costs are cumulative-opportunity costs are relevant costs-opportunity costs are future oriented-opportunity costs are not recorded in a company's accounting records

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Business

Lexi

13 July, 21:32

select the incorrect statement concerning opportunity costs-opportunity costs are cumulative-opportunity costs are relevant costs-opportunity costs are future oriented-opportunity costs are not recorded in a company's accounting records

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Rayne Martinez · Answer 1

Answer: The incorrect statement concerning opportunity costs is

"-opportunity costs are cumulative".

Explanation:

The opportunity cost is the cost of the alternative that we waive when we make a certain decision, including the benefits that we could have obtained from having chosen the alternative option.

It is referred to as "the value of the best option not selected".

Therefore they are relevant, imply a decision to be taken in the future and are not recorded in the accounting of the companies because they do not represent a cost actually incurred.