Life cycle costing (LCC):_______
a) focuses on purchase price which is typically the highest percentage of LCC.
b) is easy to understand theoretically and easy to put into practice.
c) is applied to all types of purchases except capital acquisitions.
d) includes all relevant costs expected in the first three years of ownership.
e) may include costs that are 10-15 years in the future and highly uncertain.

Life-cycle costing (LCC) is a method used to appraise the all out cost of proprietorship. It is a framework that tracks and aggregates the real expenses and incomes owing to cost object from its innovation to its relinquishment.

It enables near cost appraisals to be made over a particular timeframe, considering significant monetary elements both as far as introductory capital expenses and future operational and resource substitution cost.

Life-cycle costing is otherwise called all out cost of possession (TCO).

The way toward recognizing and archiving every one of the costs required over the life of an advantage is known as life-cycle costing (LCC).

The life-cycle costing procedure can be as basic as a table of anticipated yearly expenses, or as mind boggling as an electronic model that takes into account the formation of situations dependent on suppositions about future cost drivers.