You decided to take a college accounting course to brush up on your knowledge of the language of business.The tuition expense was $500.After the date has expired to receive a refund for the course,you are offered a job that would conflict with your class time.In making the decision to accept or decline the offer,the $500 is:

Question

Quizplus · Accepted Answer

The $500 tuition expense is a sunk cost. It is a cost that has already been incurred and cannot be recovered. Therefore, it should not be considered when making the decision whether to accept or decline the job offer. The opportunity cost of the job would be the potential benefit or pay gain that could be obtained by taking the job instead of continuing with the accounting course.

You Decided to Take a College Accounting Course to Brush