Examlex
Why is Hawaii made of basalt?
Relevant Costs
Costs that are directly related to a specific management decision and that will change as a result of that decision.
Sunk Costs
Costs that have already been incurred and cannot be recovered, which should not affect future business decisions.
Alternatives
Different options or strategies available for achieving a goal or solving a problem, often considered during decision-making processes.
Total Fixed Cost
The sum of all costs that remain constant regardless of the level of production or business activity.
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