Which of the Following Statements Is False

question 79

Multiple Choice

Which of the following statements is false?

• A)Sunk costs are never relevant.
• B)Sunk costs are costs that occurred in the past.
• C)To be relevant,a cost must be an opportunity cost.
• D)To be relevant,a cost must occur in the future.

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Definitions:

Units Of Berries

Units of berries refer to the quantified portions or measurements used to define an amount of berries, typically used in contexts of production, sale, or consumption.

Perfect Substitute

Perfect substitutes are goods or services that can be used in place of one another with no loss of utility to the consumer, such that one can be replaced by the other in use.

Units Of Good

The quantifiable measure of a product or service that is produced by a company.

Utility Function

An expression that quantitatively describes how consumer preferences are ordered, indicating the level of happiness or fulfillment they derive from various goods or services.