Examlex
Solve the inequality.
Equivalent Annual Cost
A financial assessment tool used to compare the cost effectiveness of two or more projects with different lifespans by normalizing their costs into annual equivalents.
Sunk Costs
Expenditures that have already been incurred and cannot be recovered.
Incremental Costs
Expenses that will be incurred only as a result of undertaking a specific action.
GAAP
Generally Accepted Accounting Principles; a common set of accounting principles, standards, and procedures that companies must follow when they compile their financial statements.
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