A cost that has been incurred in the past and cannot be changed is a (an):
A) Short-term cost
B) Opportunity cost
C) Sunk cost
D) Variable cost

Question

Quizplus · Accepted Answer

A sunk cost is a cost that has already been incurred and cannot be recovered or changed. It is irrelevant to future decision-making because it cannot be altered. Short-term cost, opportunity cost, and variable cost are all different types of costs that do not necessarily relate to past expenses that cannot be changed.

A Cost That Has Been Incurred in the Past and Cannot