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GCSE Business · key term
Expenditure incurred by a business to meet legal requirements, such as staff training, safety equipment or legal advice.
Used by Edexcel
Specification 1.5.3 · Paper 1
Revise: Legislation and BusinessThe decision is not simply between spending money and saving it: compliance costs must be considered alongside the legal, financial and reputational consequences of failing to meet obligations.
Distinguish the costs of complying with legislation from the penalties for breaking it: buying safety equipment is a compliance cost, not a fine.
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