Listed are seven technical accounting terms introduced or emphasized.

Opportunity cost

Sunk cost

Out-of-pocket cost

Split-off point

Joint products

Relevant information

Incremental analysis

Each of the following statements may (or may not) describe one of these terms. For each statement, indicate the accounting term or terms described, or answer "none" if the statement does not correctly describe any of these terms.

a.Examination of differences between costs to be incurred and revenue to be earned under different courses of action

b.Cost incurred in the past that can not be changed as a result of future actions

c.Cost and revenue that are expected to vary depending on the course of action taken

d.The benefit foregone by not pursuing the alternative course of action

e.Product made from common raw material and shared production processes

f.A cost yet to be incurred that require future payment and may vary among alternative course of action

g.The point at which manufacturing cost are split equally between ending inventory and COGS