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   What does 'sunk cost' really mean?

   • A sunk cost refers to money that has already been spent and cannot be recovered. A manufacturing firm, for example, may have a number of sunk costs, such as the cost of machinery, equipment, and the lease expense on the factory.

   Sunk cost definition — AccountingTools

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   Why is the Sunk Cost is unavoidable cost?

   • Sunk costs do not have to be fixed in nature. Variable costs that have been incurred in the past and cannot be changed or avoided in the future still represent sunk costs. That is, for decision making purposes fixed costs are not necessarily irrelevant (unavoidable) and variable costs are not always relevant (avoidable).

   Sunk Cost Definition & Example - investopedia.com

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   Why are sunk costs irrelevant in deciding whether to sell?

   • Sunk costs are the cost which have already been incurred in the past and cannot be recovered. In the business decision making process, sunk costs should not be considered while making a decision as they have already been incurred and whatever be the outcome of your decision, it will not be affect the cost in any way as it already has been incurred.

   Why are sunk costs irrelevant in decision making? - Quora

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   Why sunk costs are irrelevant in business?

   • Sunk costs are irrelevant in the decision making process because these costs will not change whatever option you chose. It's a past cost, what's spent has been spent. Like for example, you've spent $500 for marketing expense of your cake business but it did not give you higher sales, you can't do anything about it, you cannot recover the $500.

   Why should sunk costs be ignored in ... - Business Accounting

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2. www.investopedia.com › terms › sWhat Is a Sunk Cost—and the Sunk Cost Fallacy? - Investopedia

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   Feb 13, 2024 · Sunk costs are money that have already been spent and cannot be recovered. Learn how to avoid the sunk cost fallacy, a psychological bias that leads to poor decision-making based on past commitments.

3. en.wikipedia.org › wiki › Sunk_costSunk cost - Wikipedia

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   In economics and business decision-making, a sunk cost (also known as retrospective cost) is a cost that has already been incurred and cannot be recovered. Sunk costs are contrasted with prospective costs, which are future costs that may be avoided if action is taken.

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5. corporatefinanceinstitute.com › sunk-costSunk Cost - Overview, Examples, Fallacy, Applications

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   Learn what a sunk cost is and how it affects decision-making in economics and business. Find out how to avoid the sunk cost fallacy and use financial modeling to make rational choices.

6. online.hbs.edu › blog › postUnderstanding Sunk Costs Can Help Everyday Decision-Making

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   Nov 3, 2016 · A sunk cost is a payment or investment that has already been made and cannot be recovered. It can be useful to abandon strategies or activities that are not the best fit for your goals and preferences, even if they are expensive or time-consuming. Learn how to apply this concept in business and everyday life with examples and tips from Harvard Business School Online's blog.

7. www.investopedia.com › terms › sSunk Cost Dilemma: What It Means, How It Works, and Example

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   Oct 3, 2023 · The Sunk Cost Dilemma is the emotional difficulty of deciding whether to proceed or abandon a project when time and money have already been spent, but the desired results have not been achieved. It is applicable to past and future decisions, and it requires an evaluation of whether further investment would be throwing good money after bad. Learn how to avoid the sunk cost trap and make rational decisions.

8. www.productplan.com › glossary › sunk-costWhat is a Sunk Cost? | Definition and Overview | ProductPlan

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   Sunk cost is an investment that can't be recovered, such as marketing, research, or salaries. Learn how sunk cost can influence decision-making and how to avoid the sunk cost fallacy with tips and strategies from ProductPlan.

9. www.investopedia.com › financial-edge › 0712How To Recognize Sunk Costs - Investopedia

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   Apr 18, 2022 · A sunk cost is a cost that has already been incurred and cannot be recovered. It can be a barrier to entry or a risk in business, or a psychological obstacle in personal decision-making. Learn how to recognize sunk costs and how they affect your financial and psychological well-being.