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Procurement Activity
The process undertaken by businesses to acquire goods or services, including planning, selection, and purchasing, to meet its requirements.
Activity Rate
A measure used in cost accounting to assign overhead costs to products or services, based on the amount of activity (such as machine hours or labor hours) consumed.
Activity Cost Pool
A categorization in cost accounting that aggregates costs incurred for a specific activity, aiding in more accurate product or service costing.
Product Development
The creation of new products or improvements to existing products to meet customer needs or market opportunities.
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