A cash outlay that was incurred in the past and cannot be recovered in the future regardless of whether the proposed project is accepted or not is known as a(n):

Assume you plan to start a new enterprise; you know the probability of having losses for the first three years of operations is almost 90 percent, and you know you will report a substantial amount of income from other sources during those same three years. from a tax perspective, which of the following entity choices would not allow you to offset the entity losses against your income from other sources? c corporation s corporation llc general partnership