Cost That Has Been Incurred in the Past Is Referred

question 89

Multiple Choice

Cost that has been incurred in the past is referred to as

• A)an avoidable cost.
• B)a sunk cost.
• C)an opportunity cost.
• D)a relevant cost.

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Definitions:

Statement

Similar to an invoice; a summary of total amounts owed, including outstanding charges as well as payments received for services provided by the office.

Previous Month

A term referring to the month that directly precedes the current month in the calendar.

Itemized List

A detailed list where individual items or elements are separately presented and often described or quantified.

Diplomatic Way

A strategy or method that involves handling situations in a sensitive, tactful, and effective manner, often to maintain good relationships and avoid conflict.