Examlex
Key Terms Instructions: Please define the following key terms. Show Who? What? Where? When? Why Important?
George Orwell
Future Event
An occurrence or situation that is expected to happen at a future date, often considered in planning and forecasting.
Past Event
A situation or occurrence that has already taken place.
Relevant
Pertaining to decision-making, it refers to information or costs that will change as a result of a decision, thereby affecting the outcome.
Total Cost
The sum of all expenses associated with the production or provision of goods and services, including fixed and variable costs.
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