An Estimate of the Cost of an Item That Includes

question 70

Short Answer

An estimate of the cost of an item that includes all the costs related to the procurement and use of an item, including any related costs in disposing of the item after it is no longer useful, is called what? _____________________.

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Definitions:

Preexisting Duty Rule

In contract law, a principle that states if someone is already legally required to perform a certain duty, promising to perform that duty is not sufficient consideration for a new contract.

Consideration

The value (such as money, services, or goods) promised in a contract that motivates parties to enter into the agreement.

Ethical

Related to moral principles or the branch of knowledge dealing with these.

Liquidated Debt

A debt where the amount owed is known and determined, not subject to future conditions.