Activity Based Management Is a Method of Assigning Indirect Costs

question 19

True/False

Activity based management is a method of assigning indirect costs to products or services based on the activities they require.This describes activity based costing,not activity based management.

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Definitions:

Civil Code

A body of written law that sets out the private rights of the citizens of a state.

Adequacy of Consideration

The fairness of the value exchanged in a contract, ensuring that what is received is reasonable compared to what is given.

Neo-Expressionist

Referring to a modern art movement characterized by intense subjectivity and rough handling of materials.

Promissory Estoppel

A legal principle that prevents a party from going back on a promised commitment, even if a legal contract does not exist, due to the reliance of the other party on that promise.