Accounting: What the Numbers Mean 11th Edition by Wayne McManus,Daniel Viele,David Marshall

Exercise 36

Give examples of various costs Attending college involves incurring many costs. Give an example of a college cost that could be assigned to each of the following classifications. Explain your reason for assigning each cost to the classification.
a. Sunk cost.
b. Discretionary cost.
c. Committed cost.
d. Opportunity cost.
e. Differential cost.
f. Allocated cost.