Answer: Relevant costs
Relevant costs are future costs that are expected to vary between the different alternatives and which include both accounting costs and the opportunity costs associated with choosing one alternative over another.
what term is used to include opportunity costs and accounting costs for manegerial purposes ?
for managerial purposes, what term includes opportunity costs and accounting costs ?
For financial accounting purposes, product costs include direct materials, direct labor, and manufacturing overhead. True or False
True or False: In general, the term expense is used for managerial purposes, while the term cost refers to external financial reports. True or False: an opportunity cost is the benefit forgone by selecting one alternative over another.
Question 1 Accounting profits are typically: equal to economic profits because accounting costs include all opportunity costs. O greater than economic profits because the former do not take implicit costs into account. smaller than economic profits because the former do not take implicit costs into account. O greater than economic profits because the former do not take explicit costs into account.
Which of the following statements is true? Group of answer choices Economic profits include opportunity costs. Economic profits ignore opportunity costs. Accounting profits include all of the opportunity costs. Economists consider sunk costs in their decision making
In at least 200+ words respond to the following (please include any references) Opportunity costs are very different from accounting costs as they are the cost of the next best decision. How do companies decide what the opportunity costs of a decision really are when the next best decision is often based on an estimate since the next best decision was not chosen?
what opportunity costs do you incur by participating in a managerial accounting class?
What opportunity costs do you incur by participating in a managerial accounting class?
27. Economic costs a. include both a normal rate of return on investment and the opportunity cost of each factor of production. are equal to the direct costs of hiring all factors of production. are the opportunity cost of each factor of production minus any interest charges paid on borrowed funds. are equal to total revenue minus accounting profit. b.
QUESTION 23 Opportunity cost of an activity O a. May include both monetary costs and foregone incomes b. Is included in accounting costs c. Is known with certainty O d. Does not include monetary costs QUESTION 24