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What Are Tangible and Intangible Costs? Distinguish Between Direct and Indirect

question 15

Essay

 What are tangible and intangible costs? Distinguish between direct and indirect costs and give examples of each.


Definitions:

Standards

Established and widely accepted benchmarks or criteria within an industry or field that act as a framework for determining quality, performance, or compliance.

Ethical Financial Decisions

Choices related to finance that are made with consideration of moral principles and values, aiming to ensure fairness, transparency, and integrity.

Staff Turnover

The rate at which employees leave a company and are replaced by new hires, affecting an organization's continuity and resource allocation.

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