d. e. b. Numbered List of Cost Terms: 1. Recurring 5. Opportunity 6. Incremental 2. Variable 3. Fixed 4. Sunk 7. Direct 8. Nonrecurring costs are those that have occurred in the past and have no relevance to estimates of future costs and revenues. costs are incurred because of the use of limited resources such that the ability to use those resources to monetary advantage in another way is foregone. costs are those which are unaffected by changes in activity level over a feasible range of operations for the capacity available. costs, in total, change in relation to the quantity of output or other measures of activity level. cost refers to the additional cost that will result from increasing the output of a system by one or more units. f._ costs are those that are repetitive and occur when goods or services are produced on a continuing g. h. basis. costs can be reasonably measured and allocated to a specific output or work activity. costs are not repetitive even though the total expenditure may be cumulative over a relatively short period of time. of Tal a