Activity-Based Costing Has Been Found to Be Useful in Each

question 105

Multiple Choice

Activity-based costing has been found to be useful in each of the following service industries except

• A) airlines.
• B) railroads.
• C) hotels.
• D) ABC has been useful in all of these industries.

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Definitions:

Domestic Support Obligations

Financial responsibilities, such as alimony or child support, owed by one individual to another as ordered by a court.

Unsecured Note

A financial instrument that represents a loan not backed by collateral, typically entailing higher risk for the lender.

Entitled to Priority

Entitled to priority refers to a situation where certain claims, such as debts or interests, are given precedence over others in the event of a bankruptcy or liquidation.

Secured Creditors

Creditors who have a legal claim or lien on specific assets of the debtor as collateral for the debt.