Cost Management Measuring Monitoring and Motivating Performance 2nd Edition By Susan K. Wolcott – Test Bank
True / False
- Steel used in the production of automobiles would generally be classified as a direct cost.
- Traceability can be used as a criterion to differentiate direct and indirect costs.
- Textbook costs are an opportunity cost of earning a college degree.
- Salaries and wages you could earn while in college constitute a sunk cost.
- Learning curves lead to greater productivity over time.
- Past costs are irrelevant for both decision making and predicting future costs.
- Past costs are relevant for decision making, but irrelevant for predicting future costs.
- Past costs are irrelevant for decision making, but may be relevant for predicting future costs.
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