Take the following as truth: 4, Managerial Cost Accounting Concepts and Standards for the Federal Government, as the monetary value of resources used or sacrificed or liabilities incurred to achieve an objective, such as to acquire or produce a good or to perform an activity or service (page 105).
Then the following statement: "Resources and liabilities have monetary value that can be quantified." is true, false, or inconclusive?
Answer: True