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Committed Resource
Assets or inputs that a company has dedicated to a certain project or operational activity, reflecting a long-term investment or commitment.
ABC Implementation
The process of applying Activity-Based Costing, an accounting method that assigns costs to activities based on their use of resources.
Uncertainty
A condition characterized by a lack of sufficient knowledge, making it difficult to precisely identify the current situation, predict future events, or acknowledge multiple potential outcomes.
Outdated Costing System
A costing system that no longer accurately reflects the current production operations or costs, leading to misinformed pricing or investment decisions.
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