The statement, "All future costs are relevant in decision$-$making," suggests that any costs incurred in the future should be considered when making business decisions. However, is this truly the case?

In decision$-$making, which future costs are truly relevant, and why? How do concepts like sunk costs, fixed costs, and variable costs play a role in determining which future costs should be factored into decisions? For example, should costs that are unavoidable $($like fixed costs$)$ or already incurred $($like sunk costs$)$ influence the decisions you make moving forward?

Discuss situations where considering all future costs could lead to inefficient or poor decision$-$making. What criteria should be used to identify the costs that matter most for decision$-$making, and how can managers ensure they focus on the relevant factors?

Feel free to share examples from real$-$world business scenarios or academic experiences where distinguishing between relevant and irrelevant future costs played a crucial role in making the right decision.