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A student purchased a used car for $5,000. Three months later, the student discovers the car needs major repairs which will cost $2,000. The student must decide whether to repair the car or purchase another car. Which statement is correct?

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Answer:

The relevants cost are $2,000

Step-by-step explanation:

Based on the information given in a situation where the student have to decide whether to repair the car or purchase another car the correct statement is: THE RELEVANTS COST ARE $2,000 because the cost of repairs of the Amount of $2,000 represent the RELEVANT COST.

Therefore RELEVANT COSTS are costs or expense that can be incurred due to some certain decisions and on the other hand RELEVANT COSTS which is also known as AVOIDABLE COST can be seen as the cost or expense a person or an individual can do away with depending on other alternative such person choose to pick.

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