Cost that has been incurred in the past is referred to as
A)An avoidable cost.
B)A sunk cost.
C)An opport
D)A relevant cost.

Question

Quizplus · Accepted Answer

Sunk costs are costs that have already been incurred and cannot be recovered. They are not relevant for decision making because they cannot be changed or affected by future decisions. Therefore, sunk costs should not be considered when making decisions about future actions.

Cost That Has Been Incurred in the Past Is Referred