Decision Analysis - Marginal Analysis

Decision Analysis - Marginal Analysis

Professional Development

15 Qs

quiz-placeholder

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Decision Analysis - Marginal Analysis

Decision Analysis - Marginal Analysis

Assessment

Quiz

Professional Development

Professional Development

Medium

Created by

Huong Tran

Used 4+ times

FREE Resource

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Profit that are loss by moving an input from one use to another use are referred to as

Out-of-pocket costs

Cannibalization charges

Replacement costs

Opportunity costs

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

In a joint manufacturing process, joint costs incurred prior to a decision as to whether to process product after the split-off point should be viewed as

Sunk costs

Relevant costs

Standard costs

Defferential costs

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

In evaluating costs for decision making purpose, a company would always consider each of the following as relevant, except:

Incremental costs

Defferential costs

Avoidable cost

Variable costs

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Relevant or differential cost analysis

Allows the decision maker to group all types of costs together to facilitate decision making.

Takes all variable and fixed costs into account to analyze decision alternatives.

Considers only variable costs as they change with each decision alternative.

Considers all variable and fixed costs as they change with each decision alternative.

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The definition of economic cost is

the sum of all explicit and implicit costs of the business firm

the difference between all implicit and explicit costs of the business firm

all the dollar costs employers pay for all inputs purchased

the opportunity cost of all inputs minus the dollar cost of those inputs

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Which one of the following costs would be relevant in short-term decision making?

All costs of inventory.

Total variable costs that are the same in the considered alternatives.

Incremental fixed costs.

Opportunity costs that are the same in the considered alternatives.

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The term that best refers to past costs that have been incurred and are not relevant to any future decisions is

sunk costs.

discretionary costs.

incurred marginal costs.

.full absorption costs.

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