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A Brief Overview of Costs

Lynch, Luann J.

Technical Note

A Brief Overview of Costs

Lynch, Luann J.

C-2507 | Published March 20, 2025 | 5 pages Technical Note

Collection: Darden School of Business

Product Details

This note highlights the importance of costs in management decision-making, focusing specifically on the notion that costs that should be considered when making decisions depends on the decision at hand. Several cost classifications are discussed: direct and indirect costs, product and period costs, and variable and fixed costs.

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