Shotr note on "sunk cost,differential cost,opportunity cost, out of opcket cost".?

Question

Shotr note on "sunk cost,differential cost,opportunity cost, out of opcket cost".?

Answer 1

sunk cost = past costs

differential cost = cost that differs from one department to another

opportunity cost = these are the costs that you took forgranted for choosing one option from another

out of pocket costs = costs that you paid in cash