The key which is very important for the use of cost benefit principle is to think about the two parts of a financial decision which are both the:
- Both financial and nonfinancial.
What is Cost Benefit Principle?
This refers to the principle where it states that the principal cost which is gotten from the financial statements should not exceed the utility which it gives to the users.
With this in mind, we can see that when using the cost benefit principle, it is important to note the financial and non financial aspects of the decision.
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