(Consider This) Past costs that are not affected by new decisions are known as

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Past costs that are not affected by new decisions are known as sunk costs. These costs cannot be recovered regardless of the decision made, so they should not influence current decision-making. Variable costs are costs that change with the level of production or sales, fixed costs are costs that do not change with the level of production or sales, and marginal costs are the additional cost of producing one more unit of a product.

(Consider This) Past Costs That Are Not Affected by New