CH M8 - Please respond to the following question(s) with a thoughtful response. Be sure to support your answer with reason and logic based upon this week's readings, but keep in mind that top scores should include insight/creativity beyond the book. If you use resources beyond our textbook, sources must be cited. For additional information on the grading criteria, please review the Getting Started document. Your final assignment must be submitted as a Word doc or pdf file.

According to our textbook, what criteria is used to determine whether a revenue or cost item is "relevant"? (5pts)

When evaluating short-term business decisions, explain why it is important to evaluate both quantitative (financial) and qualitative (non-financial) criteria. Perhaps including an example might be helpful. (5pts)

Here is a real-world business decision that NIC faces each year. I am on the Graduation Commencement Committee. Every year, our budget is in danger of going negative. One option for covering the negative is to ask the graduates to pay the $30 fee for their own graduation cap & gown. Currently, NIC pays this cost, roughly $9,000 for our 300 graduates. What are some of the quantitative and qualitative factors that our committee should consider specific to that example. (5pts)