A cost incurred in the past that is not relevant to any current decision is classified as a(n): Sunk costs
This is further explained below.
<h3>What are
Sunk costs?</h3>
Generally, A cost that has already been incurred but cannot be recouped is referred to as a "sunk cost" in economics and the process of making business decisions. In contrast to sunk costs, prospective costs are future expenses that might be avoided if action is done, while sunk costs have already been incurred.
In conclusion, A cost that was incurred in the past but is not relevant to any choice that is being made at this time is considered to be a(n): Incurred expenses
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Answer:
architectural drafter draw structural features and details for buildings and other construction projects while an architectural illustrator is an artist who created imagery for the design professional that accurately portray the details of an architectural project.
Answer:
Toni must report the whole fair market value as his income
Explanation:
According to the tax laws you must report the whole FMV as your income
Answer:
unrealized loss 38,070 debit
account payable 38,070 credit
Explanation:
as the commitment is for 382,800
but the price lower to 345,730
there is a loss for thecompany as will be doing a purchase for a higher price than market: 38,070
But, as the contract has not been completed the loss is unrealized price can change in the future as well therefore it will not be reocgnize right away and no impact in the income statmeent it will be part of other comprehensive income.