A cost that is actually borne by a business rather than passed on to its customers. Therefore, it is typically...

The regular costs which are incurred by an entity in the normal conditions of operation. Normal cost consists of actual...

It stands for actual cost; broadly speaking, it is the exact amount of expense that is incurred in connection with...

Broadly speaking, it is the exact amount of expense that is incurred in connection with an operation/ requirement as opposed...