Question

WHAT IS TOTAL COT OF OWNERSHIP CONCEPT ? WHAT ARE THE SOME OF CHALLENGES THAT MUST BE OVERCOME WHEN IMPLEMENTING A TOTAL COST MEASUREMENT

Answer 1

Answer:

Total cost of ownership (TCO) is a financial estimate intended to help buyers and owners determine the direct and indirect costs of a product or system. It is a management accounting concept that can be used in full cost accounting or even ecological economics where it includes social costs.