Costs incurred prior to the current project are Sunk Costs .
<h3>What are
Sunk Costs?</h3>
sunk cost are those cost that that is been incurred without any recovery.
It can be used in decision making, which is seen as bygone and are not taken into consideration for continuity, hence, they are incurred prior to the current project .
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Answer:
In accounting, agency costs are the costs of hiring an agent in order for him/her to act on behalf of a principal. In finance, agency costs are much broader since they imply costs that may appear due to conflicts of interests between the agent and the principal. E.g. a manager who seeks to accomplish short term goals in order to collect a bonus but hurts the long term objectives and goals of the stockholders.
Agency costs of financial distress refers to the costs associated with conflicts of interest that may result in a company being insolvent, specially in the long run. This type of costs are not necessarily related to operating costs, instead they result from management decisions and strategies, e.g. higher cost of capital or debt, or even excessive spending.
Agency benefits of leverage result from stockholders benefiting from the agent's decision to keep equity low, and if needed, obtain financing from debt sources.
50) B - Per Capita Income
Damages for breach, reasonable attorney fees and costs are the course of action which a party in contract would have.
<h3><u>
What is attorney fees?</u></h3>
- Attorney's fee is a term used mostly in the United States to describe payment for legal services rendered for a client, whether in or out of court.
- It could be a flat-rate, hourly, or contingent charge.
- According to recent studies, lawyers who charge flat fees as opposed to hourly rates put in less effort for their clients and produce worse results. In a court case, attorney fees are distinct from fines, compensatory and punitive damages, and (apart from in Nevada) from court costs.
According to the "American norm," unless there are special statutory or contractual rights, the losing party in a dispute often does not pay the winning side's legal fees.
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