What are the criteria for a cost to be considered relevant to any decision?
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 40% (10 reviews)
For a cost to be relevant it must be a future cost th...View the full answer
Answered By
Usman Nasir
I did Master of Commerce in year 2009 and completed ACCA (Association of Chartered Certified Accountants) in year 2013. I have 10 years of practical experience inclusive of teaching and industry. Currently i am working in a multinational company as finance manager and serving as part time teacher in a university. I have been doing tutoring via many sites. I am very strong at solving numerical / theoretical scenario-based questions.
4.60+
16+ Reviews
28+ Question Solved
Related Book For
Managerial Accounting
ISBN: 978-0078025518
2nd edition
Authors: Stacey Whitecotton, Robert Libby, Fred Phillips
Question Posted:
Students also viewed these Managerial Accounting questions
-
What are the criteria for a successful category captain as determined by Progressive Grocer?
-
What are the criteria that must be met in order to recognize revenue from the sale of goods?
-
What are the criteria to be used when evaluating secondary data?
-
What is meant by a throwaway prototype?
-
The ICC is defined as the Pearson correlation coefficient for the NM (M 1) pairs (ij , ik) for i between 1 and N and j k: Show that the above definition is equivalent to (5.8). N M AM icc (NM-1)(M-1)...
-
Describe how the courts generally treat debt in a property distribution.
-
The brake thermal efficiency of modern I.C. engines is (a) \(10-20 \%\) (b) \(25-35 \%\) (c) \(50-60 \%\) (d) \(60-75 \%\)
-
Some Internet retailers track whether its customers have recently visited popular price-comparison sites. Why might these retailers offer different prices to those who have and have not recently...
-
Determine the cash fixed costs which are used when calculating EBDAT: Administrative expenses = $ 1 0 0 , 0 0 0 ; Rent expenses = $ 7 0 , 0 0 0 ; Depreciation expenses = $ 5 0 , 0 0 0 ; and Interest...
-
Brookfield Asset Management Inc. Access the financial statements and accompanying notes of Brookfield Asset Management Inc. for the year ended December 31, 2017, through SEDAR (www.sedar.com) or on...
-
Tom Ellis recently bought a plasma television and has since stated that he would not recommend it to others. This indicates that Tom has completed which step of the decision-making process?
-
How is an avoidable cost related to a relevant cost?
-
Weller, Inc., sold 1,000,000 shares of $25 par value common stock at $32. It subsequently repurchased 100,000 of those shares at $50 per share and then sold 70,000 of those shares at $55. Calculate...
-
Consider a 2-country world with many goods and labor as the only factor of production, where the US has an absolute technological advantage relative to China in the production of all goods, except...
-
Identify the new symmetry element(s) that result from the following combinations of symmetry elements: a. C2 h= b. C*C= C. C4* i * y = 5.) List the symmetry elements and determine the point group for...
-
Given the stock dynamic +1 = +0.5 (1/100) 0.01 and the net benefit function 0.01, where the price is $10 and cost of effort is $1, find the steady state open access effort level. What is the open...
-
The main difference between cyclically unemployed workers and structurally unemployed workers is that cyclically unemployed workers do not have marketable skills while structurally unemployed workers...
-
In 2020, the yearly tuition at a state university was $30,000. In 2025, the yearly tuition at the same state university will be $37,000. Given the price of tuition for reference, the inflation rate...
-
Linda, manufacturer of surgical gloves, acquired a machine for 120,000 on 1 January 2006 and depreciates it at 10% per annum, using the straight-line method with time apportionment, and assuming that...
-
According to a New York Times columnist, The estate tax affects a surprisingly small number of people. In 2003, . . . just 1.25 percent of all deaths resulted in taxable estates, with most of them...
-
Rearrange the following steps in the accounting cycle in proper sequence: a. Financial statements are prepared. b. An adjusted trial balance is prepared. c. Adjustment data are assembled and...
-
The following data (in thousands) were taken from recent financial statements of Under Amour, Inc: a. Compute the working capital and the current ratio as of December 31, 2008 and 2007. Round to two...
-
The following data (in thousands) were taken from recent financial statements of Starbucks Corporation: a. Compute the working capital and the current ratio as of September 27, 2009, and September...
-
Privack Corporation has a standard cost system in which it applies overhead to products based on the standard direct labor-hours allowed for the actual output of the period. Data concerning the most...
-
HomeLife Life Insurance Company has two service departments ( actuarial and premium rating ) and two production departments ( advertising and sales ) . The distribution of each service department s...
-
Otsego Industries manufactured 300,000 units of product last year and identified the following costs associated with the manufacturing activity: Variable costs: Direct materials used Direct labor...
Study smarter with the SolutionInn App