Select the incorrect statement regarding relevant revenues-relevant revenues differ between the alternatives being considered-pa
st or future revenues may be relevant-relevant revenues must make a difference in the decision under consideration-relevant revenues are identified in the same way as relevant costs
Answer: The incorrect statement regarding relevant revenues is "past or future revenues may be relevant-"
Explanation:
Relevant revenue is one that differ between the options that are relevant to a decision. If an income will be the same regardless of the option selected, the decision has no effect on the income.
<u>So The relevant revenue is future.</u>
A past income has already happened and will be the same regardless of the decision that is made, therefore it is not relevant when making a decision.
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