Define sunk cost and give an example. Define opportunity cost and give an example. Answer the following true or false questions. Circle T for true or F for false. a. Only future costs that differ between alternatives are relevant in decision making. T F b. Opportunity costs are not usually recorded in the accounts of a business. T F c. A cost that can be avoided by choosing one alternative over another is not relevant for decision purposes. T F d. A fixed cost cannot be a differential cost. T F e. One of the advantages of allocating common fixed costs to a product is that such allocations more accurately reflect the product's true profitability. T F