An Activity-Based Costing System Can Be a Significant Competitive Advantage

question 21

True/False

An activity-based costing system can be a significant competitive advantage for a business which does bidding for manufacturing work.

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Definitions:

Large Shipment

Refers to the transport of goods in bulk or significant quantity at once by land, sea, or air.

Specific Performance

A legal remedy in contracts where the court orders the party who breached the contract to perform the promised duty as agreed, rather than simply compensating the other party with money.

Strict Performance

A legal principle that requires parties to a contract to fulfill their obligations exactly as specified in the contract, without deviation.

Substantial Performance

A legal concept indicating that if a party has performed enough of its contractual obligations, it may still enforce the contract despite minor breaches.