Which of the following best defines the concept of a relevant cost? a. A past cost that is the same among alternatives. b. A past cost that differs among alternatives. c. A future cost that is the same among alternatives. d. A future cost that differs among alternatives. e. A cost that is based on past experience.

Q: When reporting information, the most important thing to be considered is that, the cost. a. Should…

A: When reporting information, the most important thing to be considered is that, the cost Should be…

Q: Which type of incurred costs are not relevant in decision-making (i.e., they have no bearing on…

A: The costs that have already been incurred are known as Sunk costs. A sunk cost will not change…

Q: Distinguish between escapable and inescapable costs. Give an example of each.

A:

Q: what is an indirect cost and how is it different than a direct cost?

A: Indirect Cost: Indirect costs are the costs of doing business that are not easily identified with a…

Q: An opportunity cost may be described as: a. a foregone benefit. b. a historical cost. c. a…

A: Opportunity cost means the sacrifice of an individual when he chooses one option over another.

Q: What is Principle of Unequal Cost and who advocated the principle?

A: The basic principle of unequal cost can be described simply as "buying cheap and selling dear". In…

Q: What is meant by relevant costs and there use in making short-term decisions?

A: Cost refers to the amount of expenditure incurred by an individual or an entity in relation to goods…

Q: Costs that will differ between alternatives and influence the outcome of a decision are

A: Cost:   Cost can be defined as the cash and cash equivalent which is incurred against the products…

Q: What is the difference between a direct cost and an opportunity cost.  Can you show the difference…

A: Direct cost and opportunity cost are two types of costs used in cost accounting.

Q: What are the advantages and disadvantages of cost principle

A: Cost principle is an accounting principle that recognizes the asset at their respective cash amounts…

Q: The potential benefit that is given up when one alternative is selected over another is called O a.…

A: Cost accounting is one of the important branch of accounting, under which all type of costs and…

Q: What is the relevant range? What role does the relevant range concept play in explaining how costs…

A: Relevant range refers to the level of the activity which represents the maximum and minimum limits…

Q: ?Which of the following statements related to cost estimation methods is true

A: Cost estimation can be defined as an approach under the project management. It is the costing…

Q: QUESTION 5 When trying to decide between multiple alternatives, a cost that occurs in the future and…

A: Relevant cost means the cost which is considered while taking the decision. All variable cost and…

Q: Future costs that differ across alternatives are: a. Opportunity costsb. Sunk costsc. Relevant…

A: Costs are the amount of expenditures that are made in the business for the purpose of production or…

Q: n be obtained from this rating?

A: Given: To analyse the cost classification with the benefits as follows,

Q: A sunk cost can be described as which of the following?     A historical cost     Cannot be…

A: Sunk Cost: The sunk cost is the historical cost that already has been incurred previously, which is…

Q: Giving examples, distinguish between Prime costs and Marginal costs

A: Prime costs are the firm total expenses directly related to the materials and labour used in…

Q: The term that refers to costs incurred in the past that are not relevant to a decision is: Oa…

A: Sunk cost is the cost which is incurred in tha past and is not relevant for the decision making.…

Q: Define the term “opportunity cost.” How may this cost be relevant in a make-or-buy decision?

A: Cost is defined as the total amount of money spent by the company for the production or creation of…

Q: Why opportunity cost is measured and relate with the evaluation of alternative, can it be an…

A: Cost or expenditure is the total amount spent by an individual, group and company to make a finished…

Q: The costs most relevant to be used in decision making are: a. sunk costs O b. current costs O c.…

A: Cost: It implies to the expense that is incurred on the manufacturing of a product or rendering…

Q: Which of the following statements is false? (You may select more than one answer.)a. Under some…

A: Sunk Cost: It is refers to the cost or the expense that had incurred in the past and can no longer…

Q: What is the definition of cost?

A: In the business, costs are the important measures to determine the value of elements being purchased…

Q: em. b. the amount of money paid for an item,

A: Opportunity costs are the potential gains that an individual, investor, or corporation foregoes by…

Q: What is life-cycle and/or full-cost accounting? IS THERE A DIFFERENCE?

A: In this question, we have to tell about life-cycle costing and full cost accounting, whether these…

Q: Label each of the following statements as either true (“T”) or false (“F”). A sunk cost will change…

A: Sunk cost: It can be defined as an expense that has already been paid for and cannot be recovered in…

Q: he distinction between indirect and direct costs depends on: Select one: a. whether a cost differs…

A: Direct cost means the cost which can be related with the production of specific goods directly like…

Q: avoidable and unavoidable cost?

A: Costs are the amount incurred for the different purposes of the business. It is defined in monetary…

Q: The potential benefit of one alternative that is lost by choosing another is known as a. An…

A:

Q: In what sense is the WACC an average cost? A marginal cost?

A: Weighted average cost of capital is the firm's cost of capital which is based on proportion of each…

Q: What is opportunity cost? How is this concept used in TVM analysis, and where is it shown on the…

A: Opportunity Cost is the cost of the next best alternative forgone. In other words, it is the return…

Q: Costs that will differ between alternatives and influence the outcome of a decision ar Select one: O…

A: Relevant costs are the managerial costs that are incurred only to make specific business decisions.…

Q: Which of the following best describes an "opportunity cost"? Group of answer choices costs that were…

A: Opportunity cost is the loss of the benefit which is forgone to choose the best possible…

Q: Explain cost benefit analysis in detail. Describe the evaluation techniques of cost benefits.

A: The company's motive will be to increase the profitability. The profitability of the company can be…

Q: hould the costs be historical (embedded)costs or new (marginal) costs?

A: Historical cost is the original cost at which an asset was purchased by corporation and used in the…