The Primary Benefit of Activity-Based Costing Is ______________ Product Costing

question 68

Short Answer

The primary benefit of activity-based costing is ______________ product costing.

---

Definitions:

Marginal Revenue

The increase in revenue that results from the sale of one additional unit of product or service.

Government Licensing

The process by which a government authority grants permission to individuals or businesses to operate within a regulated profession or activity.

Patents

Legal documents granting inventors exclusive rights to their inventions for a certain period, preventing others from making, using, or selling the invention without permission.

Government Franchising

A method whereby the government grants a private entity the right to operate a public service or business within a certain territory or function.