State whether each of the following statements is true or false. Briefly explain your answers.
Definitions:
Total Cost of Ownership
The purchase price of an asset plus the costs of operation, considering all financial aspects of acquiring, operating, and maintaining it over its lifetime.
Competitive Advantage
A unique attribute or condition that allows an organization to outperform its competitors, potentially leading to greater sales or margins.
Geographical Location
The physical place or position of a person or thing as determined by its coordinates on the Earth's surface.
Purchased Material
Items or goods a company buys from external suppliers for use in its manufacturing process.
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