Understanding Cost, Price, Expense, and Charge

What is the definition of cost?

• The amount of money or resources required to consume something.

• The amount of money or resources required to distribute something.

• The amount of money needed to buy, do, or make something.

• The amount of money or resources required to sell something.

• The ________ of the new car was too high for me.

• cost

• charge

• expense

• price

What is the definition of price?

• The color of a product or service

• The size of a product or service

• The location of a product or service

• The amount of money for which something is sold

What is the definition of expense?

• A liability or debt owed by a business or individual.

• A profit or gain obtained by a business or individual.

• An amount of money that a person or business spends in order to do something

• A non-monetary asset owned by a business or individual.

What is the definition of charge?

• The amount of money that you have to pay for something, especially for an activity or service

• Charge is a unit of currency used in some countries.

• Charge is the act of accusing someone of a crime.

• Charge is a type of battery used to power electronic devices.

• The _______ of the trip is more than I budgeted for.

• cost

• charge

• expense

• price

• The software is available for download free of ________.

• cost

• charge

• expense

• price

• The price of a new iPhone is $1,299.

• cost

• charge

• expense

• price

• Our biggest ________ this year was our summer holiday.

• cost

• charge

• expense

• price

• Is there a _________ for children or do they go free?

• cost

• charge

• expense

• price