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 incurred _____.
A) processing cost
B) retrieval cost
C) acquisition cost
D) storage cost

Question

Quizplus · Accepted Answer

Innove Tech incurred acquisition cost, which refers to the cost of obtaining useful information from external sources such as Ziff Corp. This cost includes searching for and evaluating potential sources of information, negotiating contracts, and any other costs associated with acquiring the necessary information.

Innove Tech Is a Technological Firm That Wants to Build