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In traditional-based costing, overheads are apportioned based on one volume measure, whereas in activity-based costing, overheads are apportioned according to cost drivers.
Corporations
Legal entities that are separate from their owners, with the ability to own assets, incur liabilities, and engage in contracts or legal actions.
Corporate Managers
Individuals in charge of managing a corporation's affairs, making strategic decisions, and ensuring operational efficiency.
Corporate Owners
Individuals or entities that legally own one or more shares of stock in a corporation, giving them rights to its assets and profits.
Agents
Individuals or entities that act on behalf of others in business transactions or negotiations.
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