ABC Is Generally More Costly to Implement Than Traditional Costing

question 81

True/False

ABC is generally more costly to implement than traditional costing.

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Definitions:

Corporation Form

The corporation form refers to a legal entity structure, recognized by law, where the business is distinct from its owners, providing limited liability and allowing for ownership through stock shares.

Business

An organization or entity engaged in commercial, industrial, or professional activities with the aim to generate profits.

Board of Directors

A group of elected or appointed members who collectively oversee the activities of a company or organization, ensuring it's managed in the best interest of the stakeholders.

Stockholders

Individuals or entities that own shares in a corporation, giving them rights to dividends and a say in company affairs.