Sunk costs:

A) cannot be estimated accurately.
B) represent an initial period of cash flow of a capital budgeting project.
C) have been incurred in prior periods.
D) None of the above

Sunk Costs

Expenses that have already been incurred and cannot be recovered or altered, and should not be considered in future business decisions.

Cash Flow

The cumulative sum of funds moving into and out of a company, particularly influencing its liquid assets.