Question

Cosmo Techno, a new technology firm, invested $50,000 to obtain high-speed Internet services for fast and efficient transmission of information across its branches. In this scenario, the investment cost incurred by Cosmo Techno is an example of _____.

Answer 1

Answer: Communication cost.

Step-by-step explanation:

Communication costs are the overall costs incur by an organization paid to a service provider or telecommunication company for service rendered, such cost includes internet, video conferencing, VoIP, fax equipment, cell phone, etc.

Communication cost for companies is fast increasing, and this is due to sophisticated technologies and companies operating in different countries.

Ways to keep communication cost low includes

• Use of social media platforms.

• Use of discounted services and refunds.

• Audit and monitor all the services the organization is paying for.

• Engage an IT expert .