Question: PART I - ANSWER (50 pts) 1. Identify the main qualities of income and costs that are relevant in making decisions: 2. Are all variable

PART I - ANSWER (50 pts)

1. Identify the main qualities of income and costs that are relevant in making decisions:

2. Are all variable costs relevant? Explain:

3. What is an opportunity cost? How does this differ from the Sunk Costs?

4. Budgets are useful only for small companies that can estimate their sales accurately. Do you agree with this statement? Why?

5. What are the 3 levels of planning? Explain each one briefly:

PARTE I - CONTESTE (50 ptos) 1. Identifique las cualidades principales de los ingresos y los costos que son relevantes en la toma de decisiones: 2. Todos los costos variables son relevantes? Explique: 3. Qu es un costo de oportunidad? cmo este difiere de los Sunk Costs? 4. Los presupuestos (Budget) son tiles solo para compaas pequeas que pueden estimar sus ventas con exactitud. Estas de acuerdo con este enunciado? Por qu? 5. Cules son los 3 niveles de planificacin? Explique cada uno brevemente

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