What concept refers to when firms consider all the costs that can be assigned to the acquisition,use,and maintenance of a purchase?
A)activity-based costing
B)cost trade-offs
C)the systems approach
D)total cost of ownership

Question

Quizplus · Accepted Answer

Total cost of ownership refers to the comprehensive assessment of the cost of a purchase, including all expenses related to acquiring, using, and maintaining the item over its lifecycle.

What Concept Refers to When Firms Consider All the Costs