Asked by
Garry Wright
on Oct 10, 2024Verified
Sunk costs are costs that have proven to be unproductive.
Sunk Costs
Costs that have already been incurred and cannot be recovered or altered by any current or future actions.
Unproductive
Refers to resources or activities that do not contribute to the output or efficiency of a process or operation.
- Distinguish between avoidable and sunk costs.
Verified Answer
AE
Learning Objectives
- Distinguish between avoidable and sunk costs.