relevant (differential) revenues and relevant (differential) costs

Q: Is

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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: What is a performance obligation, and how is it used todetermine when revenue should be recognized?

A: The performance obligation is the promise made by the business entity to provide the goods or…

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: 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: The amount of increase or decrease in cost that is expected from a particular course of action as…

A: Discretionary cost: A discretionary expense is a cost that a business or household can survive…

Q: Which of statements about the contribution income statement is correct? Group of answer choices

A: A contribution income statement is defined as the statement in which all the variable costs and all…

Q: Explain the concepts of revenue, costs, break-even and profit with examples?

A: These concepts are related to variable costing in which we use variable cost to compute our…

Q: Distinguish between the stand-alone and the incremental revenue-allocation methods.

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Q: Understand the concept of relevant revenues and costs. What makes a revenue or cost relevant?…

A: solution concept relevant revenue                 relevant revenue means the revenue which has the…

Q: What is meant by reporting the "principle of exceptions" as the term used in reference to cost…

A: The principle of exception is a supervision style of managers in which they take corrective action…

Q: Distinguish between discretionary fixed costs and committed fixed costs.

A: Discretionary fixed costs and committed fixed costs: Both costs are considered as fixed costs but…

Q: Please explain the meaning of a differential revenue or a differential cost.

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Q: Choice Are revenue expenditures.

A: Extraordinary repairs are repairs that are of high cost and increase the useful life of the asset…

Q: Which of the following costs is relevant in decisionmaking? committed costs accounting costs cash…

A: Following is the answer to the given question

Q: What is the difference between direct and indirect costs? Explain.

A: Cost is the expense incurred for producing or manufacturing a product. It includes raw material,…

Q: please explain the "principle of exceptions" as it relates to cost control.

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Q: Which of the following statement is correct for relevant costs? a. It is avoidable, future and…

A: Relevant cost are those costs which are relevant for decision making. A cost is judged to be…

Q: A term that refers to a situation where the revenue function is equal to the cost function.

A: Revenue function and cost function are two important terms used in cost volume profit analysis. The…

Q: differences between the FASB and GASB

A: Accounting is a practice that helps the business to keep its transactions in legal-mentioned form.…

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: How does an engineered cost differ from a discretionary cost?

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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: What are: Relevant / irrelevant / Differential Costs Relevant / irrelevant / Differential Revenues…

A: Relevant / Irrelevant / Differential Costs: Relevant Costs are the cost which are relevant in…

Q: avoidable and unavoidable cost?

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

Q: Why does Recognizee revenue when (or as) each performance obligation is satisfied,” is important?

A: Performance obligations are promises to transfer goods or services to a customer. In a transaction…

Q: Explain Deferred Revenue? How it is different from Deferred Expenditures? Give an example?

A: Explain the meaning of deferred revenue and provide example:Deferred revenues:Collection of cash in…

Q: An alternative concept of fairness in cost allocation, absent the cause-and-effect basis, includes?

A: A cause and effect allocation basis is the cost allocation method in which the allocation base is…

Q: Costs that are directly associated with the earning of revenue are recognized as expense in the same…

A: The accounting is based on various principles and regulations.

Q: Which of the following costs can be ignored when making a decision? a. Opportunity costs. b.…

A: Sunk cost can be ignored when making a decision. It is irrelevant cost for decision making.  Sunk…

Q: What are the drivers to the cost of revenue

A: The total cost of producing and delivering a product or service to customers is known as the cost of…

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: With relevant examples, explain the following; i. Primary appointment and secondary apportionment…

A: Part i: When overheads are allocated to all divisions in the company (both manufacturing and service…

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: 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: Discuss the following methods used in measuring cost and rent recoveries             (i)…

A: Cost measurement is necessary to know that how much cost is incurred either to manufacture or a…

Q: Classify the following fixed costs as normally being either committed or discretionary:b.…

A: Given: To analyse if advertising follows either committed or discretionary fixed costs.