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An expired cost; any item or class of cost of (or loss from) carrying on an activity; a present or past expenditure defraying a present operating cost or representing an irrecoverable cost or loss; an item of capital expenditures written down or off; a term often used with some qualifying expression denoting function, organisation or time, such as a selling expense, factory expense or monthly expense.

Cover of Frederick, O'Connor, Kuratko (2019), Entrepreneurship Theory Process Practice (Melbourne: Cengage)Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)