TANGIBLE COST Meaning and
Definition
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Tangible cost refers to the direct and measurable expenses incurred by an individual or organization in the course of conducting a specific activity or project. These costs are tangible in nature as they can be easily identified, quantified, and assigned a monetary value. Tangible costs are typically explicit and include items that involve actual cash outflow or other resources that have a clear financial impact.
Examples of tangible costs may include materials or supplies, labor or wages, equipment or machinery, utilities, transportation expenses, packaging, advertising or marketing expenditures, and any other identifiable expenses directly related to a particular project or activity.
Tangible costs are significant in decision-making processes as they provide concrete figures that allow individuals or organizations to assess the financial implications of taking a particular action or implementing a specific project. These costs can be properly calculated, documented, and accounted for, making them helpful in financial planning, budgeting, and performance evaluation.
It is important to note that tangible costs do not account for intangible factors, such as emotional or psychological impacts, reputational risks, or social and environmental consequences. These intangible costs are not easily measurable in monetary terms and are often excluded while calculating tangible costs. Organizations often consider both tangible and intangible costs to make informed and comprehensive decisions, aiming to maximize benefits while minimizing overall costs.
Common Misspellings for TANGIBLE COST
- rangible cost
- fangible cost
- gangible cost
- yangible cost
- 6angible cost
- 5angible cost
- tzngible cost
- tsngible cost
- twngible cost
- tqngible cost
- tabgible cost
- tamgible cost
- tajgible cost
- tahgible cost
- tanfible cost
- tanvible cost
- tanbible cost
- tanhible cost
- tanyible cost
- tantible cost
Etymology of TANGIBLE COST
The term "tangible cost" does not have a specific etymology as it is a combination of two words: "tangible" and "cost". Here is the etymology of each component:
1. Tangible: The word "tangible" originates from the Latin word "tangibilis", which means "capable of being touched or grasped". It came into English usage during the 1570s, derived from the Latin verb "tangere" which means "to touch". The sense of "perceptible by touch" later expanded to include a broader meaning of "capable of being understood or realized".
2. Cost: The word "cost" has its roots in the Latin "constare", which means "to stand at, to cost". It entered Middle English as "costen" in the 13th century, and eventually evolved to the modern spelling and usage.
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