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Describe the different managerial uses of cost information. Explain the meanings and decision making uses of sunk costs, opportunity costs, avoidable costs and relevant costs.

Describe the different managerial uses of cost information.

Explain the meanings and decision making uses of sunk costs, opportunity costs, avoidable costs and relevant costs.

Describe experiences you may have with these costs, whether it be in your daily personal life or in your professional life.

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