# Explain briefly the following concepts: (a) Sunk cost (b) Differential cost (c) Variance analysis (d) Key factor (e) Cost reduction

## Question:

Explain briefly the following concepts:

(a) Sunk cost

(b) Differential cost

(c) Variance analysis

(d) Key factor

(e) Cost reduction

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**2**- COST CONCEPTS AND CLASSIFICATIONSSection: Theory Questions

Problem: 17

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