Why is it difficult to assign a dollar figure to an intangible cost? Can it ever be done? Explain your answer, and provide an example.
What will be an ideal response?
Intangible costs are costs whose dollar value cannot be calculated easily. The cost of customer dissatisfaction, lower employee morale, and reduced information availability are examples of intangible costs.
If the analyst examines an intangible item carefully, however, it sometimes is possible to estimate a dollar value. For example, users might dislike a system because it is difficult to learn. Their dissatisfaction is an intangible cost, but if it translates into an increase in errors that must be corrected, a tangible dollar cost could be assigned. It is preferable to work with tangible costs whenever possible.
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What will be an ideal response?