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Differential Cost Analysis
The process of comparing the difference in cost between two alternative decisions to find out which is more beneficial.
Income Statement
A financial statement that reports a company's financial performance over a specific period, including revenues, expenses, and profits or losses.
Future Costs
Potential expenses that a company expects to incur in the future as a result of its current decisions and actions.
Relevant
Pertaining to decision-making, it refers to information or data that can influence the outcome of the decision.
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