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ICWA Interview Question:
Define sunk cost?
Submitted by: MurtazaSunk cost indicates the historical cost which has been incurred in the past. This type of cost is not relevant in the decision making process. For example-while deciding about the replacement of a machine, the depreciated book value of the machine may not be relevant in the form of sunk cost.
Submitted by: Murtaza
Submitted by: Murtaza
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