A Sunk Cost Is

question 14

Multiple Choice

A sunk cost is

• A)the cost for drilling certain types of wells, such as a well for water.
• B)a past cost that cannot be recovered.
• C)a cost that is highly relevant for decision-making.
• D)an opportunity cost.

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Definitions:

Entrepreneurial Team

A group of individuals with diverse skills and roles who come together to found and build a startup or new venture.

Outsourced

The practice of delegating certain job functions or tasks to external contractors or firms, rather than handling them internally.

Business Plan

A formal document that outlines a company's goals, strategies, market analysis, financial forecasts, and operational structures.

Analyze Opportunity

The process of examining potential opportunities to determine their viability and how they can be capitalized on effectively.