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Relevant Cost (Definitions (Irrelevant costs (future costs that do not…
Relevant Cost
Definitions
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Irrelevant costs
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Sunk cost is a cost that has already been incurred & that cannot be avoided regardless of what a manager decides to do
Joint product costs
In some industries,a number of end products are
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Opportunity Cost
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Opportunity costs are not actual monetary outlays & are not recorded in the accounts of an organisation
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