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Costs, or expenses, are a necessity to a business’ development. Expenses must be wholly and exclusively for business purposes for them to be fully deductible against business income for tax relief purposes. For most businesses, the basics of what a cost entails is sufficient information. Managers and planners in large organisations, however, are the ones who would want to know the types of expenses and categories of decisions they face for projects. Knowing what costs fall under which category can help decision-makers review alternative courses of action and make decisions that benefit the company.
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