Asked by Muhammad Ahmed on Jun 18, 2024
Verified
Sunk costs refer to resources that were knowingly committed to a failing course of action.
Sunk Costs
Costs that have already been incurred and cannot be recovered, and should not affect future decision-making processes.
- Identify the influence and management of sunk costs in the process of decision-making.
Verified Answer
AN
Ammar NaheddJun 20, 2024
Final Answer :
False
Explanation :
Sunk costs refer to costs that have already been incurred and cannot be recovered, regardless of whether the course of action is failing or successful.
Learning Objectives
- Identify the influence and management of sunk costs in the process of decision-making.