πŸ“’ Too many exams? Don’t know which one suits you best? Book Your Free Expert πŸ‘‰ call Now!

  • google app store apple app store
  • βœ–

      Question

      A cost that has already been incurred and cannot be

      recovered is known as a:
      A Opportunity Cost Correct Answer Incorrect Answer
      B Sunk Cost Correct Answer Incorrect Answer
      C Incremental Cost Correct Answer Incorrect Answer
      D Imputed Cost Correct Answer Incorrect Answer

      Solution

      Sunk costs are historical costs that have already been incurred and cannot be changed by any current or future decision. For decision-making purposes, sunk costs are irrelevant and should not be considered.

      Practice Next
      ask-question