Retrospective (past) costs that have already been incurred and cannot be recovered.

Question

BlackTom AI · Accepted Answer

The question asks about retrospective (past) costs that have already been incurred and cannot be recovered.
Option a: Explicit Cost. These are out-of-pocket monetary payments or actual cash expenditures that are easily observed, such as wages or rent. While explicit costs are real costs, they are not specifically defined as past and unrecoverable in the way sunk costs are, so this option is not the best fit for the given definition.
Option b: Implicit Cost. Implicit costs represent the opportunity costs of using resources you already own, such as the owner’s time or potential alternative uses of capital. They are not necessarily incurred as cash payments and aren’t inherently about irrecoverable past expenditures, so this is not the correct characterization.
Option c: Fixed Cost. Fixed costs are expenses that do not change with the level of output in the short run (like a rent payment). They describe the behavior of costs relative to output, not the temporal nature of past irrecoverable expenditures, so this option misses the essence of the description.
Option d: Variable Cost. Variable costs vary with production volume (like materials). Similar to fixed costs, this term describes how costs behave with output, not whether they are past and unrecoverable.
Option e: Sunk Cost. This is the precise concept described: costs that have already been incurred in the past and cannot be recovered regardless of future decisions. They should not influence current decision-making because they remain the same no matter what happens next.

Retrospective (past) costs that have already been incurred and cannot be recovered.单项选择题

类似问题

What is a sunk cost?

Retrospective (past) costs that have already been incurred and cannot be recovered.

A(n) cost arises from a past decision, cannot be avoided or changed, and is irrelevant to current and future decisions.

After purchasing a reusable water bottle from your local convenience store for $10.00, you can always refill your bottle at the store’s water station for $1.00. What is the sunk cost in this scenario?

更多留学生实用工具

智能学习助手

风格化写作助手

论文查重助手

文献引用助手

课堂转译助手

课堂笔记助手

Quiz搜索助手

学校历年真题

智能刷题助手

智能匹配练习

希望你的学习变得更简单