Irrelevant Costs

question 167

Multiple Choice

Irrelevant costs

• A)do not differ among alternatives.
• B)can be avoided by a business.
• C)are the same as opportunity costs.
• D)are costs that will incur in future.

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Definitions:

Cash

Money in the form of currency that can include coins, currency notes, and sight deposits at financial institutions.

Sarbanes-Oxley

A U.S. law passed in 2002 to protect investors from fraudulent financial reporting by corporations.

Internal Controls

Procedures and mechanisms implemented by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Fraud

Intentional deception made for personal gain or to damage another individual.