Examlex
Mark is out sailing in his boat one evening when he hears a young girl crying for help in the lake.Which of the following is true?
Fixed Costs
Expenses that do not change in total despite fluctuations in the volume of goods or services produced.
Sunk Costs
Costs that have already been incurred and cannot be recovered or changed, which should not influence future business decisions.
Opportunity Costs
The value of the best alternative forgone in making any decision, representing the benefits that could have been received from that alternative.
Management
Management refers to the coordination and administration of tasks to achieve a goal, including planning, organizing, staffing, directing, and controlling organizational resources.
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