Q62
Statement I Costs which do not take the form of cash outlays, nor do they appear in the accounting system are known as opportunity cost. Statement II Costs in the form of depreciation allowances and unpaid interest on the owner's own funds are known as sunk cost.
A.
Both staements are correct
B.
Both statements are incorrect
AnswerC.
Statement I is correct and Statement II is incorrect
D.
Statement I is incorrect and Statement II is correct
Answer: Option B
Solution
Answer: Option B
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