The given statement about cost is a true statement as cost becomes most obvious when more money must be spent on one thing, leaving less available for another.
<h3>What is the cost?</h3>
A cost is often the value of the money that was expended during the production or delivery of something or service and is now unavailable for use.
Manufacturing, research, retail, and accountancy all make use of this idea. In business transactions, the cost may be an acquisition cost, in which case the amount of money spent to acquire it is considered to be part of the cost.
Finally, cost becomes most apparent when more money spent on one thing leaves less money for another. This corresponds to a true statement.
As a result, opportunity cost describes a decision we must make in order to make another one.
You have $50, for instance, which you may spend on a date with your partner or on your preferred game. The inability to purchase the game is your opportunity cost if you decide to utilize that money to take your partner out on a date.
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Answer:
B. I and II only
Explanation:
I. Regulatory changes allowing institutions to offer more services II. Technological improvements reducing the cost of providing financial services
The statement above about gap analysis is: True.
<h3>What is Gap Analysis?</h3>
Gap Analysis is a measurement that an entrepreneur makes when he compares his present performance with that which he desires to achieve.
He evaluates the time money and resources spent on projects to know if they are fully optimized.
So, the statement above is right.
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