Answer (D) is correct . A sunk cost is a previously incurred cost that is the result of a past irrevocable management decision. Nothing can be done in the future about sunk costs. The market study cost is an example.
Answer (A) is incorrect because An incremental cost is the additional cost of a new strategy or increased production. It is also called a differential cost.
Answer (B) is incorrect because Prime costs are variable costs of direct material and direct labor.
Answer (C) is incorrect because An opportunity cost is the revenue obtainable from an alternative use of a resource.
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The cost incurred by Gleason for the market study is a(n)
