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 ChoiceUncontrollable cost.Out-of-pocket cost.Sunk cost.Opportunity cost.Incremental 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.

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.

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 choicesare unavoidable and therefore should be ignored.are known as relevant costs.should be included in the decision.are known as incremental costs