DIRECT EXPENSE Definition

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DIRECT EXPENSE is that portion of expense that is directly expended in providing a product or service for sale and is included in the calculation of COST OF GOODS SOLD, e.g. labor and inventory.

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CARTE BLANCHE is unrestricted power to act at ones own discretion, i.e. unconditional authority.

FIXED COST is a cost that does not vary depending on production or sales levels, such as rent, property tax, insurance, or interest expense.

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