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Which of the following best describes a sunk cost? A. Expected future data that differ among alternatives B. Costs that were incurred in the past

Which of the following best describes a "sunk cost"?

A.

Expected future data that differ among alternatives

B.

Costs that were incurred in the past and cannot be changed

C.

A factor that restricts the production or sale of a product

D.

Benefits foregone by choosing a particular alternative course of action

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