What does the term "relevant range" mean?
A) The range within which costs may fluctuate.
B) The range within which a particular cost formula is valid.
C) The range within which production may vary.
D) The range within which the relevant costs are incurred.

Question

Quizplus · Accepted Answer

The relevant range is the range within which a particular cost formula is valid. It is important to identify and understand the relevant range when analyzing costs, as costs may behave differently outside of this range.

What Does the Term "Relevant Range" Mean