The word “cost” is used to describe any outlay of money incurred by a company during the production or provision of its products or services. What is meant here is the sum of money invested by a business in the cycle of product purchase and resale. When it comes to money spent, businesses often encounter two primary categories: variable expenses and fixed costs. So What is a fixed expense? Read on as we dive further into the key difference between fixed and variable expenses. The Meaning of “Fixed Expenses” Expenses…
Read MoreCan you explain the distinction between these two types of costs?
