Total cots of ownership is a defined as a financial estimate designed to assist buyers and owners in ascertaining the direct and indirect costs of a product or system.
What is Total cots of ownership?
Total cost of ownership is defined as a financial estimation that is projected to support the purchasers and owners in computing the direct and indirect costs of a product or service.
Therefore, It is a management accounting idea that can be utilized to full cost accounting or even ecological economics where social costs are included.
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