📝 One-liners · 50 cards
DECISION MAKING
Fixed — Behaviour / Decision-Relevance / Example?
Behaviour: Constant in total; Decision-Relevance: Usually irrelevant in short run; Example: Rent, salaries
Variable — Behaviour / Decision-Relevance / Example?
Behaviour: Varies with volume; Decision-Relevance: Relevant; Example: Raw material
Semi-variable — Behaviour / Decision-Relevance / Example?
Behaviour: Mixed; Decision-Relevance: Split & treat parts separately; Example: Electricity
Sunk — Behaviour / Decision-Relevance / Example?
Behaviour: Already incurred; Decision-Relevance: Always irrelevant; Example: Past R&D
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