Examlex
The process of preparing for and facilitating movement from one situation or place to another is known as
Decision Making
Selecting a course of action from competing alternatives.
Avoidable Cost
Costs that can be eliminated if a particular decision is made, such as discontinuing a product or service.
Sunk Cost
A cost that has already been incurred and that cannot be changed by any decision made now or in the future.
Consistency
Refers to the accounting principle that mandates the same accounting methods and procedures to be followed from one financial period to another to ensure comparability of financial statements over time.
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