BEC Decision Making review 4

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Joens1313
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300739
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BEC Decision Making review 4
Updated:
2015-04-13 22:52:50
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BEC Decision Making review
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BEC Decision Making review 4
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  1. What are relevant costs.
    Relevant costs are expected future costs that will differ among alternatives.
  2. Relevant costs are expected future costs that will differ among alternatives.
    Relevant costs are expected future costs that will differ among alternatives.
  3. What are avoidable costs?
    costs that will not be incurred if an activity is altered or suspended.
  4. What are costs that will not be incurred if an activity is altered or suspended.
    Avoidable costs
  5. What are differential (incremental) costs?
    the difference in cost between two alternatives.
  6. what is the difference in cost between two alternatives.
    differential (incremental) costs
  7. What are Marginal costs?
    The addition to total cost of producing or selling one more unit of output.
  8. --------------------------- is the addition to total cost of producing or selling one more unit of output.
    Marginal costs is the addition to total cost of producing or selling one more unit of output.
  9. What are out of pocket costs?
    immediate or near future outlays.
  10. what are immediate or near future outlays.
    out of pocket costs
  11. What are opportunity costs?
    the forgone benefits from alternative not selected.
  12. What are sunk costs?
    historical costs incurred as a result of past decisions; they are not relevant in current decision making.
  13. what are historical costs incurred as a result of past decisions; they are not relevant in current decision making.
    sunk costs.

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