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T&E stands for Travel and Entertainment, a common expense category in business accounting. It refers to costs incurred by employees while traveling for work or entertaining clients, suppliers, etc.
To elaborate, T&E expenses can include items such as airline tickets, hotel rooms, meals, car rentals, and other expenses related to business travel. In some companies, T&E may also cover expenses related to entertaining clients, like taking them out for meals or events. As a founder, you should understand T&E because these expenses can be substantial and need to be properly managed, documented, and sometimes, reimbursed to the employees.
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