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Learning Objective 1 - Distinguish between relevant and irrelevant revenues and costs. Relevant costs are costs which differ among alternatives....
1)Reading 11: What is an expected monetary value? How does the EMV contrast to the monetary value? Why is it important for a decision maker to ignore irrelevant data? How sensitive is any decision to changes in probability?
2)Reading 12: If perfect information is never available, why consider it? Cite several examples of how you can positively affect or alter the downside risk associated with any decision.
3)Topic for Discussion:( refer accounting assignment3 file)
Many companies have made decisions to reduce their workforces, close stores, and otherwise shrink their businesses - often because of a decision to outsource. Conduct an Internet search to locate an article about a company that has recently announced significant layoffs, store closings, or other business reductions.
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