In Procurement,Total Cost of Ownership Includes All of the Following

question 15

Multiple Choice

In procurement,Total Cost of Ownership includes all of the following except:

• A)field failures of purchased items
• B)consideration of the impact of supplier quantity discounts
• C)cost of order placement
• D)In fact,total cost of ownership includes all of the above.

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Definitions:

Legal Fees Earned

Income recognized by law firms or attorneys for the provision of legal services.

Unearned Rent

Revenue received by a landlord for rent that has not yet been earned because the time period the rent covers has not yet passed.

Rent Revenue

Income earned from leasing out properties or real estate to tenants.

Adjusting Entries

Adjusting entries are journal entries made at the end of an accounting period to update the accounts and ensure they reflect the true financial status of a company.