Cost objects include anything for which cost data is desired.
Cost objects refers to items for which costs are measured separately. It is used when assessing and recording the cost of running a business.
There are several types of cost objects. One is the output-related cost objects, which includes the products and services a firm provides. Operational cost objects include processes and items in a firm such as machinery, customer service, and management of a department.
Business relationship cost objects refer to the partnerships and transactions that a firm conducts with another entity and makes expenditure in the process. For example, the cost of getting and renewing a license.
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