Instruction: Answer the following questions: $1.$ Which of the following is not true with regards to relevant costs and relevant revenues? A$)$ They are sunk costs and historical revenues B$)$ They are expected costs and expected revenues C$)$ They occur in the future D$)$ The differ among alternative courses of action Answer: $\_\_\_\_\_\_\_\_2.$ Sunk costs $\_\_\_\_\_\_\_\_.$ A$)$ are relevant B$)$ are differential C$)$ have future implications D$)$ are ignored when evaluating alternatives Answer: $\_\_\_\_\_\_\_\_3.$ Which of the following is an example of sunk costs? A$)$ wages to security staffs B$)$ cost of purchasing raw materials C$)$ cost of an alternative investment D$)$ wages payable to skilled laborers to make a product Answer: $\_\_\_\_\_\_\_\_4.$ In evaluating different alternatives, it is useful to concentrate on $\_\_\_\_\_\_\_\_.$ A$)$ variable costs B$)$ fixed costs C$)$ total costs D$)$ relevant costs Answer: $\_\_\_\_\_\_\_\_5.$ Which of the following costs always differ among future alternatives? A$)$ fixed costs B$)$ historical costs C$)$ relevant costs D$)$ variable costs Answer: $\_\_\_\_\_\_\_\_6.$ A relevant revenue is revenue that is a$($n$)\_\_\_\_\_\_\_\_.$ A$)$ past revenue and differs among alternative courses of action. B$)$ future revenue and differs among alternative courses of action C$)$ in$-$hand revenue. D$)$ earned revenue. Answer: $\_\_\_\_\_\_\_\_7.$ A relevant cost is a cost that is a$($n$)\_\_\_\_\_\_\_\_.$ A$)$ future cost B$)$ past cost C$)$ sunk cost D$)$ non$-$cash expense Answer: $\_\_\_\_\_\_\_\_8.$ Quantitative factors $\_\_\_\_\_\_\_\_.$ A$)$ include financial information, but not nonfinancial information B$)$ include both financial and nonfinancial information C$)$ are always relevant when making decisions D$)$ include employee morale Answer: $\_\_\_\_\_\_\_\_9.$ One$-$time$-$only special orders should only be accepted if $\_\_\_\_\_\_\_\_.$ A$)$ incremental revenues exceed incremental costs B$)$ differential revenues exceed variable costs C$)$ incremental revenues exceed fixed costs D$)$ total revenues exceed total costs Answer: $\_\_\_\_\_\_\_\_10.$ When deciding to accept a one$-$time$-$only special order from a wholesaler, management should $\_\_\_\_\_\_\_\_.$ A$)$ consider the sunk costs and opportunity costs B$)$ not consider the special order's impact on future prices of their products C$)$ determine whether excess capacity is available D$)$ verify past design costs for the product Answer: $\_\_\_\_\_\_\_\_$