Question

Global Networcks has processed and archived a large amount of data on its servers. Due to technical faults in its servers, it could not access the data. The company had to pay $300,000 to external technicians to regain access to its data. The cost incurred by Global Networcks is an example of _____.

Answer 1

Answer:

retrieval costs

Explanation:

Retrieval costs refers to costs associated with obtaining information about your company's accounts or data stored in data servers.

Retrieval costs are usually associated with banks since they charge their customers a fee for requesting additional information about their accounts. But they also apply to costs incurred by companies trying to retrieve information stored in data servers.