Question: 1. Differential costs can only be variable. II. The potential benefit that is given up when one alternative is selected over another is called

1. Differential costs can only be variable. II. The potential benefit that is given up when one alternative is selected over another is called a sunk cost. III. The amount that a manufacturing company could earn by renting unused portions of its warehouse is an example of an opportunity cost. Multiple Choice Only statement I is true. Only statement II is true. Only statement III is true. All statements are true.

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