Indicate whether each of the following statements is true or false.To be relevant in decision making, information must be based on past experience._____All quantitative information that differs among the decision alternatives under consideration is relevant._____Costs that cannot be changed are not relevant to a decision._____Sunk costs may appropriately be considered in decision making if they are significant in amount._____Differential revenues are relevant in decision making._____
What will be an ideal response?
| To be relevant in decision making, information must be based on past experience. | F |
| All quantitative information that differs among the decision alternatives under consideration is relevant. | F |
| Costs that cannot be changed are not relevant to a decision. | T |
| Sunk costs may appropriately be considered in decision making if they are significant in amount. | F |
| Differential revenues are relevant in decision making. | T |
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