Question: Continue from question "Security AB Limited" you did answered answered on July 17, 2016. My question is, "The management team has accused you, the accountant, of using too much jargon. Prepare a statement which explains the following terms in a way that a multidisciplinary team of managers would understand. You will use this statement as a briefing paper at the next management meeting. The terms to be explained are:
(i) relevant costs;
(ii) avoidable costs; and
(iii) incremental costs