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What do you mean by fixed costs?
Fixed Cost:
Cost may be described as the amount of expenditure incurred upon, or attributable to a specified thing. Fixed costs are such costs that tend to remain constant irrespective of the volume of output or sales. Illustrations of fixed costs as given below: staff salaries, administration expenses, rent and establishment charges as well as depreciation.
T, a member of the finance team, has been constantly arriving late to work and in recent months he has consistently made significant errors in his work. A number of colleagues have
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