explicit cost

  

Definition

Expense that is contractual in nature and definite in amount, such as rent, salaries, wages, or utility bills. Explicit costs are easily recognizable for classification and recording.

Use explicit cost in a sentence

  • I wanted to know what the explicit cost was, so I could budget myself accordingly and not spend too much.

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  • When you are trying to figure out if a project will be to risky you must figure out the explicit cost and decide from there.

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  • You should always factor everything into the explicit cost of any purchase so that you are fully budgeted to take it on.

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