Accounting Concepts Quiz
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Questions and Answers

Which type of cost could not be in a company's accounting records?

  • Opportunity cost (correct)
  • Indirect costs
  • Sunk cost
  • Direct costs
  • What type of cost represents the money already spent and cannot be recovered?

  • Indirect costs
  • Sunk cost (correct)
  • Direct costs
  • Opportunity cost
  • Which type of cost includes expenses for rent, utilities, and administrative salaries?

  • Indirect costs (correct)
  • Direct costs
  • Sunk cost
  • Opportunity cost
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