Principles of Accounting Volume 2
19th Edition
ISBN: 9781947172609
Author: OpenStax
Publisher: OpenStax College
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Textbook Question
Chapter 10, Problem 4MC
Which of the following is not one of the five steps in decision-making process?
A. identify alternatives
B. review, analyze, and evaluate decision
C. decide best action
D. consult with CFO concerning variable costs
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Accounting
The costs most relevant to be used in decision making are:
a. sunk costs
O b. current costs
O c. estimated future costs
O d. notional and full costs
Clear my choice
1. What factors determine the relevance of information to decision making?
2. What are sunk costs, and why are they not relevant in making decisions?
3. What information is relevant in an outsourcing decision?
Which of the following costs can be ignored when making a decision?a. Opportunity costs.
b. Differential costs.
c. Sunk costs.
d. Relevant costs.
Chapter 10 Solutions
Principles of Accounting Volume 2
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