Question

an opportunity cost: multiple choice is an unavoidable cost because it remains the same regardless of the alternative chosen. requires a future outlay of cash. results from past managerial decisions. is the potential benefit lost by taking a specific action instead of alternative actions. is irrelevant in decision making because it occurred in the past.

Explanation:

Opportunity cost is defined as the potential benefit that is forgone when one alternative is chosen over another. It is not an unavoidable cost (fixed cost is unavoidable in some cases), doesn't require a future cash outlay (sunk cost is past - related), and is not from past decisions (sunk cost is from past). It is relevant in decision - making as it represents the loss of potential gain from other alternatives.

Answer:

Is the potential benefit lost by taking a specific action instead of alternative actions.