Pardoning Richard Nixon cost Gerald Ford popular support.
Cost concept for Decision making ?
garden services are popular today because due to scarcity resources decision has to be made by gardeners on what to produce in their Gardenes also want to reduce population in the country
Opportunity Cost
cost
Pardoning Richard Nixon cost Gerald Ford popular support.
Pardoning Richard Nixon cost Gerald Ford popular support.
Pardoning Richard Nixon cost Gerald Ford popular support.
-- cost -- popular support
-- cost -- popular support
Relevant cost is that cost which is required for the specific decision making process or the cost which will be change due to specific decision while irrelevant cost has no concern with decision making or any specific decision.
Relevant cost is that cost which is necessary for the underlying decision in decision making process while irrelevant cost is not necessary to be decision to be made.
Fixed cost become relevent cost when a particular decision affects the fixed cost of production. For Example: Before Decision fixed cost $100 After Decision Fixed Cost $120 so in this case fixed cost also becomes relevent for decision making.
Cost concept for Decision making ?
1. Not giving land to the peasants 2. Keep the war going
Role of cost accounting in managerial decision making?"
help you determine the oppotunit cost of your decision.