EXPENDITURE Definition

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EXPENDITURE is a cost incurred in the normal course of business to generate revenues. See expenses.

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RELEVANT COST, in managerial accounting decision-making situations, is any negative-implications phenomenon which is consequent upon the production process, whether it is denominated in money terms or not.

ABSORPTION PRICING is where all costs, both fixed and variable; plus a percentage mark-up for profit; are recovered in the price.

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