Which concept includes ongoing support and maintenance costs as well as acquisition costs?
A) overhead expenses
B) total cost of ownership
C) time value of money
D) resource allocation

Question

Quizplus · Accepted Answer

The concept that includes ongoing support and maintenance costs as well as acquisition costs is the total cost of ownership. This is a comprehensive approach to understanding the expenses involved in acquiring and maintaining an asset or investment over its entire life cycle. It takes into account not just the initial purchase price or investment cost, but also the ongoing expenses associated with maintenance, repairs, upgrades, and eventual disposal or replacement. By considering the total cost of ownership, businesses and individuals can make more informed decisions about whether a particular investment or asset is worth the expense in the long run.

Which Concept Includes Ongoing Support and Maintenance Costs as Well