Which of the Following Statements Is True of the Sunk

Which of the following statements is true of the sunk cost fallacy?

A) It refers to the decisions made by managers to diversify their corporation because their competitor diversified first.
B) It is based on the belief of firm managers about the potential of their company's ability to create value in the adjacent market.
C) It refers to the excessive pride, arrogance, or overconfidence of managers that leads to poor decisions while making acquisitions.
D) It is the belief of managers that investment in a failed acquisition must continue because significant amounts have already been invested.