What are indirect costs?
An example of an AI chatbot conversation about understanding indirect costs in budgeting.
Can you explain what indirect costs are?
Indirect costs are expenses not directly tied to a specific project or activity, like administrative salaries.
How do indirect costs differ from direct costs?
Direct costs can be directly attributed to a project, while indirect costs support multiple projects and are harder to allocate.
Can you give me some examples of indirect costs?
Sure! Examples include utilities, rent, and office supplies that benefit multiple projects.
Why are indirect costs important in budgeting?
They are crucial for understanding the full cost of a project and ensuring accurate budgeting and funding.
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