Innove Tech is a technological firm that wants to build a global service delivery system. It has consulted a larger firm, Ziff Corp., to obtain the proven technology required to establish this system. In the context of the costs of useful information, Innove Tech has incurred _____.
A) processing cost
B) retrieval cost
C) acquisition cost
D) storage cost

Question

Quizplus · Accepted Answer

Innove Tech has incurred acquisition costs as it has consulted Ziff Corp. to obtain the technology required to establish their global service delivery system. Acquisition costs refer to the costs associated with obtaining useful information or knowledge. Processing costs relate to the cost of analyzing and making sense of the information, retrieval costs to the cost of searching and locating the required information, and storage costs to the cost of storing and maintaining the information.

Innove Tech Is a Technological Firm That Wants to Build