3 Tu ghort-term decisions Slide 4 chapter 10 Relevant Costing for Managerial Dec

Question

3 Tu ghort-term decisions Slide 4 chapter 10 Relevant Costing for Managerial Decisions Describe the importance of relevant costs for short-term decisions. Knowledge Check Using the drop-down ist, select the best labet for each description Are the cost Rems relevant or srelevant? what type of cost is each item? Relevant or Not Relevant Type Cost of buying land previously purchased Future cost of land used to develop a plant site Forgone profits after choosing Project A over Project B. select select select select select submit onswer&continue;

Explanation / Answer

(a) Not Relevant Cost- Type is Sunk Cost

(b) Relevant Cost - Type is Out of Pocket

(c) Relevant Cost - Type is Opportunity Cost

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