Which of the following statements is true of life$-$cycle costing?

Multiple Choice

It is mostly used while purchasing capital equipment.

It is most likely to be used for products that have short$-$term lives.

It is used to demonstrate that a high$-$cost product will probably also have high maintenance costs.

It is conducted when a buyer decides to buy from the same vendor for a long period of time.

It is calculated as the amount that is spent with each vendor and for what products.