Life cycle costing is a:
A) Decision-making method that considers costs from the time the product is introduced through a number of years
B) Decision-making method that considers a target cost
C) Decision-making method that considers improvements in cost and quality over a product's life
D) Pricing method based on demand

Question

Quizplus · Accepted Answer

Life cycle costing is a decision-making method that considers costs from the time the product is introduced through a number of years, including the costs involved in design, production, maintenance, disposal, and any other related expenses. This helps in determining the overall cost of a product or project and making informed decisions about its sustainability and profitability.

Life Cycle Costing Is A