A cost that cannot be avoided or changed because it arises from a past decision, and is irrelevant to current and future decisions, is called a(n):Multiple ChoiceSunk cost.Uncontrollable cost.Incremental cost.Out-of-pocket cost.Opportunity cost.

A cost that requires a future outlay of cash and is relevant for decision making, is a(n):Multiple ChoiceOperating cost.Out-of-pocket cost.Uncontrollable cost.Sunk cost.Opportunity cost.

An opportunity cost:Multiple ChoiceIs an unavoidable cost because it remains the same regardless of the alternative chosen.Requires a future outlay of cash.Results from past managerial decisions.Is the potential benefit lost by taking a specific action instead of alternative actions.Is irrelevant in decision making because it occurred in the past.

A cost that can be eliminated in whole or in part by choosing one alternative over another is a(n) Blank______ cost.Multiple choice question.irrelevantsunkavoidableincremental

When analysing a make-or-buy decision, costs that will be incurred regardless of the decision:Group of answer choicesshould be included in the decision.are unavoidable and therefore should be ignored.are known as relevant costs.are known as incremental costs.

Fill in the Blank QuestionFill in the blank question.A(n) cost arises from a past decision, cannot be avoided or changed, and is irrelevant to current and future decisions.