Question: Life cycle costing ( LCC ) : shows the phases of product evolution from growth to maturity. includes all relevant costs expected in the first

Life cycle costing (LCC):
shows the phases of product evolution from growth to maturity.
includes all relevant costs expected in the first three years of ownership.
focuses on purchase price that is typically the highest percentage of LCC.
may include costs that are 10-15 years in the future and highly uncertain.
can be applied to all types of purchases except capital acquisitions.

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