Costs which are always relevant in decision making are those costs which are: A. Variable B. Fixed C. Sunk D. Avoidable

Q: Which of the following best defines the concept of a relevant cost? a. A past cost that is the same…

A: Relevant Cost: it is a cost which is used for taking decision  for the business management. this…

Q: Label each of the following statements as either true (“T”) or false (“F”). An opportunity cost is…

A: Answer:   True.

Q: All future costs are relevant in decision making. O True O False

A: When we make decision-making, we consider the differential between the costs and the opportunity…

Q: Sunk costs should always be included when considering the cost of an activity. True or false, and…

A: Sunk cost are those cost which are already incurred by the business , But business cannot recovered…

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: analysis? What are identified as possible risks associated with cost

A: Definition: A technique for calculating the costs related to a business prospect or proposal, as…

Q: Describe two potential problems that should be avoided in relevant-cost analysis.

A: Relevant cost are the cost that are linked to specific business decisions. They are a part of…

Q: “Sunk costs are easy to spot—they’re the fixed costs associated with a decision.” Do you agree?…

A: The Sunk cost is a cost which has been incurred in the past and cannot be recovered and revoked back…

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: 4. Please state the differences between relevant, opportunity and sunk costs.

A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…

Q: Sunk costs are easy to spot---they're the fixed costs associated with a decision. Do you agree?…

A: Suck Cost: a cost that has already been spent but cannot be recouped; this kind of expense is…

Q: Define unavoidable fixed costs.

A: Unavoidable fixed costs are fixed costs which cannot be avoided by discontinuing a product line or…

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: Future costs that do not differ among the alternatives are not relevant in a decision.

A: In accounting when it comes to making decisions we classify costs into different types or…

Q: “Sunk costs are easy to spot—they’re simply the fixed costs associated with a decision.” Do…

A: Sunk cost: Sunk cost is the cost that has been incurred as a result of past events and such cost…

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

A: The cost that will differ between alternatives and influence the outcome of a decision is referred…

Q: What is an opportunity cost and why should it be included when making decisions?

A: Opportunity costs is the costs of next best alternative foregone by accepting current alternative.…

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 would not be relevant in a make or buy decision? Unavoidable variable costs…

A: Relevant cost considered for making component inhouse: Direct costs Variable overhead Avoidable…

Q: Which of the following costs are irrelevant to business decisions? Avoidable costs Costs that…

A: Sunk costs are irrelevant to business decisions.

Q: What is the benefit of identifying avoidable and unavoidable cost in decision making process?

A: Avoidable costs: Avoidable Costs, as the name suggests, are the costs that can be avoided of the…

Q: Explain the difference between a controllable and a noncontrollable cost.

A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…

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: Beside the dollar cost, what other costs should you consider when comparing alternative solutions to…

A: There could be lot of factors which are to be considered while comparing alternative solutions to a…

Q: One cost that is irrelevant in decision making is a sunk cost Group of answer choices True False

A: Sunk costs are those costs that are already incurred and it is irrelevant for the decision-making as…

Q: Discuss the benefit of identifying avoidable and unavoidable cost in decision making process.

A: Benefit of Avoidable Cost   1. Avoidable cost Avoidable cost helps management in decision making…

Q: Give two examples of sunk costs, and explain why they are irrelevant in decision making.

A:

Q: Understand how fixedand variable costs behave andhow to use them to predictcosts.

A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…

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

A:

Q: How do you calculate Benefit Cost Ratio (BCR). Mention the decision making process of BCR

A: The present value of the benefit is divided by the cost and investment in order to calculate the…

Q: Problem 4 a. What is the difference between relevant, opportunity and sunk costs? b. Why are fixed…

A: Part (a)

Q: costs and benefits of a too-big-to-fail

A: Too-Big-To-Fail Policy: Too-big-to-fail policy means saving a firm or industry whose failure can…

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: What are sunk costs? Give an example.

A:

Q: Briefly explain the importance of distinguishing between relevant and irrelevant costs for the…

A: The costs that are affected by decision are relevant cost and  those costs are not get affected are…

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

A: Cost accounting is one of the branch of accounting. Under this, various type of costs are being…

Q: What two arguments tend to justify classifying all costs as either fixed or variable even though…

A: Costs are the expenses which are spent by the manufacturing entity to perform its operations or…