A Cost That Cannot Be Changed by Any Present or Future

question 195

Multiple Choice

A cost that cannot be changed by any present or future decision is a(n)

• A) incremental cost.
• B) opportunity cost.
• C) sunk cost.
• D) variable cost.

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Definitions:

Holder in Due Course

A term in commercial law referring to a party who has received a negotiable instrument in a legitimate manner for value, without notice of any defects in the instrument or claims against it.

Immediate Party

A term not commonly used in a specific legal definition, but generally refers to parties directly involved in a legal transaction or matter.

Bad Faith

Deliberate deceit or a refusal to fulfill one's obligations or agreements, often implying a dishonest intent.

Sale of Goods Act

refers to a statutory framework that regulates the sale and purchase of goods, setting out the rights and duties of both buyers and sellers.