The financial statement that summarizes a firm's operations over a period of time is called a(n) cash flow statement. income statement. balance sheet. periodic operating statement. A cost that has already been incurred and cannot be recouped is referred to as a(n) cost. opportunity financial side sunk If a project is acceptable by the internal rate of return technique, which rule below is applicable? IRR > required return IRR > 0 IRR > 1 O IRR > payback period