Indicate whether each of the following statements is true or false.Relevant costs are frequently called avoidable costs.?____Variable costs almost always are relevant to a decision, and fixed costs almost always are not relevant.?____A variable cost is relevant to a decision only when it differs among the alternatives under consideration.?____The benefit not received from an alternative not selected is an opportunity cost.?____Opportunity costs are not relevant in decision making, but they can be used in evaluation of management performance.?____
What will be an ideal response?
| Relevant costs are frequently called avoidable costs. | T |
| Variable costs almost always are relevant to a decision, and fixed costs almost always are not relevant. | F |
| A variable cost is relevant to a decision only when it differs among the alternatives under consideration. | T |
| The benefit not received from an alternative not selected is an opportunity cost. | T |
| Opportunity costs are not relevant in decision making, but they can be used in evaluation of management performance. | F |
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