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Which of the following is NOT a distinctively IHRM activity?
Actual Costs
The true, total amount spent on goods or services, factoring in all relevant expenses.
Standard Costs
Predetermined costs assigned to goods and services, used as a benchmark for evaluating actual performance and cost control.
Normal Standards
Generally accepted benchmarks or criteria within a specific industry or area of business against which processes, products, or activities are measured.
Standard Cost
A predetermined cost of manufacturing, selling, or operating a product or service.
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