IRRELEVANT COST Definition

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IRRELEVANT COST, in managerial accounting decision-making situations, is any positive or negative implications phenomenon which is not consequent upon the production process, whether it is denominated in money terms or not.

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UNIT-LEVEL ACTIVITY, in Activity Based Costing, is an activity that must be done for each unit of production.

DEFERRED ANNUITY is an annuity in which the income payments/withdrawals begin at some future date

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