Question

Relevant cost and relevant revenue are also called as

Answer 1

In cost accounting, relevant means that you consider future revenue and expenses. Also, relevant means that a cost or revenue will change, depending on a decision you make. Past costs are water under the bridge, and if the costs or revenue remain the same no matter what you decide, they aren't relevant.

Answer 2

Here is your answer:

Relevant Costing and short-term decisions. Relevant costs and revenues are those costs and revenues that change as a direct result of a decision taken.

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