If a Cost Is Identical Under Each Alternative Under Consideration

question 14

Multiple Choice

If a cost is identical under each alternative under consideration within a given decision context, the cost is considered:

• A)an alternative cost.
• B)a discounted cost.
• C)an irrelevant cost.
• D)a procedural cost.

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Definitions:

Streamline

To simplify or eliminate unnecessary steps in a process to increase efficiency and improve performance.

Purchasing Process

The sequence of steps followed by an organization to acquire goods or services, starting from the identification of the need to the receipt and approval of the item.

Cash Equivalents

Short-term, highly liquid investments that can be easily converted into a known amount of cash.

Highly Liquid

An asset or investment that can be quickly converted into cash without much loss in value, ensuring easy accessibility of funds.