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Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta
Edition 22ISBN: 978-0077862275Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta
Edition 22ISBN: 978-0077862275 Exercise 41
Label each of the following statements as either true ("T") or false ("F").
______ 1. Relevant costs are also known as unavoidable costs.
______ 2. Incremental costs are also known as differential costs.
______ 3. An out-of-pocket cost requires a current and/or future outlay of cash.
______ 4. An opportunity cost is the potential benefit that is lost by taking a specific action when two or more alternative choices are available.
______ 5. A sunk cost will change with a future course of action.
______ 1. Relevant costs are also known as unavoidable costs.
______ 2. Incremental costs are also known as differential costs.
______ 3. An out-of-pocket cost requires a current and/or future outlay of cash.
______ 4. An opportunity cost is the potential benefit that is lost by taking a specific action when two or more alternative choices are available.
______ 5. A sunk cost will change with a future course of action.
Explanation
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Relevant costs refer to the cost which h...
Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta
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