The concept of a relevant cost can be defined as a past cost that differs among alternatives.

Name: The concept of a relevant cost can be defined as a past cost that differs among alternatives.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

A relevant cost is a future cost that differs among alternatives. Past costs, also known as sunk costs, are not considered relevant because they have already been incurred and cannot be changed by any current or future action.

The Concept of a Relevant Cost Can Be Defined as a Past