(Solution) - Fill in each of the blanks below with the correct -(2025 Original AI-Free Solution)

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Academic Level: Undergrad. (yrs 3-4)

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Fill in each of the blanks below with the correct term.
1. Relevant costs are also known as .
2. An requires a future outlay of cash and is relevant for current and future decision making.
3. An is the potential benefit lost by taking a specific action when two or more alternative choices are available.
4. A arises from a past decision and cannot be avoided or changed; it is irrelevant to future decisions.
5. Refer to the incremental revenue generated from taking one particular action over another.