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William Shakespeare's Henry VI, Part II includes the line "The first thing we do, let's kill all the lawyers." The president of the Canadian Bar Association interpreted this quotation as
Increased Revenues
The growth in money that a company brings in from its operations, indicating a rise in sales or other income sources.
Variable Costs
These are expenses that vary directly with changes in production volume or activity level.
Relevant Costs
Costs that should be considered when making a decision because they will be affected by the decision; these costs are future-oriented and differ among alternatives.
Sunk Costs
Costs that have already been incurred and cannot be recovered or altered by any current or future actions.
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