One or More of the Following Is (Are) a Cost

question 14

Multiple Choice

One or more of the following is (are) a cost accounting system(s) that use(s) only unit-based activity drivers to assign costs to cost objects.

• A)Activity-based management
• B)Activity-based costing system
• C)Functional-based cost management system
• D)Both a and b

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Definitions:

Profits

Financial gains obtained after deducting the costs, expenses, and taxes associated with doing business or an economic activity.

Sole Proprietorship

A business structure where a single individual owns and operates the business, personally responsible for all debts and legal actions.

Traditional Form

Traditional form refers to conventional or long-established ways of doing something, often contrasted with more modern methods.

Corporation

A legal entity that is separate and distinct from its owners, capable of conducting business, owning assets, and being liable for debts.