Managerial Accounting (15th Edition)

Published by McGraw-Hill Education
ISBN 10: 007802563X
ISBN 13: 978-0-07802-563-1

Chapter 12 - Differential Analysis: The Key to Decision Making - Questions - Page 558: 12-2

Answer

See definitions

Work Step by Step

incremental cost - a difference in cost between two alternatives opportunity cost - potential benefit given up when one alternative is selected over another sunk cost - cost that has been incurred and cannot be changed by any action
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