Question - There are 4 questions. Need minimum of 200 words. Must be new work. Please give citations.
1. Discuss the concepts of relevant costs and incremental costs. How do they relate? Provide examples.
2. The concept of "Cost-Benefit" permeates smart decision making and accounting principles. How does this concept relate to incremental analysis? Provide an example to prove your point.
3. What would happen if an incremental cost impacted each alternative equally? Would this be a relevant cost? Thoughts...questions... anybody?
4. What is it about "sunk costs" that excludes them from being relevant costs?