Past costs are also called sunk costs because they are unavoidable and cannot be changed no matter what action is taken.

Name: Past costs are also called sunk costs because they are unavoidable and cannot be changed no matter what action is taken.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Sunk costs are costs that have already been incurred and cannot be recovered or changed, regardless of future decisions or actions taken. They are therefore referred to as "sunk" because they are essentially "sunk" or set in stone.

Past Costs Are Also Called Sunk Costs Because They Are