Costs That Can Be Considered Sunk Costs Over a fiXed

question 316

Multiple Choice

Costs that can be considered sunk costs over a fixed period of time are called ____ costs.

• A) Opportunity
• B) Fixed
• C) Incremental
• D) Accounting
• E) Erosion

Recognize the major disadvantages and challenges that may face a franchisee.

Understand the importance of rationality and logic in tempering passion when planning and running a business.

Identify key focuses for new business starters, such as obtaining financing, emotions involved, hiring, and making a profit.

Recognize the different sections of a business plan and their purposes, including executive summary, company and industry, products and services, and marketing research and evaluation.

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Definitions:

Peripheral Nervous System

The part of the nervous system outside the brain and spinal cord, including the nerves and ganglia, responsible for transmitting information to and from the central nervous system.

Somatic Nervous System

The part of the peripheral nervous system associated with the voluntary control of body movements through the action of muscles.

Central Nervous System

The central nervous system (CNS) is comprised of the brain and spinal cord, serving as the primary processing center for the entire nervous system, and is responsible for receiving, processing, and coordinating information throughout the body.

Parasympathetic Nervous System

Part of the autonomic nervous system that promotes relaxation, digestion, and nutrient absorption, counterbalancing the sympathetic nervous system.