Based on the concepts covered in this chapter, think about the following scenario: One company is considering if it should take a new project and hired a consulting firm for input. After the meeting, the company received and paid a bill from the consulting firm. Is the paid consulting fee an incremental cash flow to the new project?

a.) Yes, because the service was provided.

b.) No, because it occurred regardless if the firm accepts the project.

c.) Yes, because the company spent money on it.

d.) No, because the cost was from the past.