Relevant Costs Are Often Referred to As

question 11

Multiple Choice

Relevant costs are often referred to as:

• A) Unavoidable costs.
• B) Differential costs.
• C) Sunk costs.
• D) All of these answers are correct.

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Definitions:

Competitive Advantage

A condition or circumstance that puts a company in a favorable or superior business position compared to its competitors.

Human Capital

Human capital represents the knowledge, skills, competencies, and attributes embodied in individuals that facilitate the creation of personal, social, and economic well-being.

Triple Bottom Line

An accounting framework that incorporates three dimensions of performance: social, environmental, and financial.

Economic

Pertaining to the production, distribution, and consumption of goods and services, as well as the management of money and resources in a region or country.