Which of the following refers to expenses other than the purchase price that are associated with the acquisition and use of a product?
A)fixed costs
B)ownership costs
C)variable costs
D)differentiation costs
E)opportunity costs

Question

Quizplus · Accepted Answer

Ownership costs refer to expenses other than the purchase price that are associated with the acquisition and use of a product. This includes costs such as maintenance, repairs, insurance, and operating expenses. Fixed costs are expenses that do not vary with the level of production or sales, while variable costs do vary with production or sales. Differentiation costs are expenses associated with making a product unique or different from competitors, and opportunity costs refer to the cost of forgoing an alternative option when making a decision.

Which of the Following Refers to Expenses Other Than the Purchase