Indicate whether each of the following statements is true or false.
1. To be relevant in decision making, information must be based on past experience.
2. All quantitative information that differs among the decision alternatives under consideration is relevant.
3. Costs that cannot be changed are not relevant to a decision.
4. Sunk costs may appropriately be considered in decision making if they are significant in amount.
5. Differential revenues are relevant in decision making.

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The Answer of Indicate whether each of the following statements is true or false.
1. To be relevant in decision making, information must be based on past experience.
2. All quantitative information that differs among the decision alternatives under consideration is relevant.
3. Costs that cannot be changed are not relevant to a decision.
4. Sunk costs may appropriately be considered in decision making if they are significant in amount.
5. Differential revenues are relevant in decision making.

Indicate Whether Each of the Following Statements Is True or False