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Management Accounting MCQs

Sunk cost is best defined as...

the cost which has already been incurred in the past any future or present action could not affect it

a cost which is incurred due to increase in the volume of production

a cost which will incurred in the future

a cost which remains fixed

a cost which changes due to volume

Answer

Correct Answer: the cost which has already been incurred in the past any future or present action could not affect it

Explanation:

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