Making decisions is an important management function. The key to making important managerial decision is ---------------------- blank analysis. We need to consider both financial and non-financial information, financial information such as blank and non-financial information such as -------------------------,---------------------- blank . blank cost is. a cost that has already been incurred and cannot be---------------------------- blank regardless of what a manager decides to do. The key to successful decision making is to focus on ---------------------------blank costs and-------------------------------- blank as well as------------------------------------ blank costs while ignoring everything else. Opportunity costs also need to be -------------------------- blank when making decisions. An opportunity cost is the potential benefit that is given up when one-------------------------------------- blank is selected over another.

costs

relevant

sunk

considered

alternative

effect on employees turnover

differential

avoided

opportunity

benefits