Explain the incremental concept in detail
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Explanation:
Incremental principle states that a decision is profitable if revenue increases more than costs; if costs reduce more than revenues; if increase in some revenues is more than decrease in others; and if decrease in some costs is greater than increase in others.
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Iɴᴄʀᴇᴍᴇɴᴛᴀʟ ᴘʀɪɴᴄɪᴘʟᴇ sᴛᴀᴛᴇs ᴛʜᴀᴛ ᴀ ᴅᴇᴄɪsɪᴏɴ ɪs ᴘʀᴏғɪᴛᴀʙʟᴇ ɪғ ʀᴇᴠᴇɴᴜᴇ ɪɴᴄʀᴇᴀsᴇs ᴍᴏʀᴇ ᴛʜᴀɴ ᴄᴏsᴛs; ɪғ ᴄᴏsᴛs ʀᴇᴅᴜᴄᴇ ᴍᴏʀᴇ ᴛʜᴀɴ ʀᴇᴠᴇɴᴜᴇs; ɪғ ɪɴᴄʀᴇᴀsᴇ ɪɴ sᴏᴍᴇ ʀᴇᴠᴇɴᴜᴇs ɪs ᴍᴏʀᴇ ᴛʜᴀɴ ᴅᴇᴄʀᴇᴀsᴇ ɪɴ ᴏᴛʜᴇʀs; ᴀɴᴅ ɪғ ᴅᴇᴄʀᴇᴀsᴇ ɪɴ sᴏᴍᴇ ᴄᴏsᴛs ɪs ɢʀᴇᴀᴛᴇʀ ᴛʜᴀɴ ɪɴᴄʀᴇᴀsᴇ ɪɴ ᴏᴛʜᴇʀs.
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