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Generally Accepted Accounting Principles
A set of accounting standards and practices that are widely accepted and used in the U.S. for financial reporting.
Activity-Based Costing
An accounting method that assigns costs to products or services based on the activities required to produce them, leading to more accurate product costing.
Idle Capacity
Unused or underutilized production capacity within a business, often resulting in inefficiency and increased costs.
Organization-Sustaining Costs
Costs that are not directly attributable to any specific business activity, product, or service but are necessary for the overall operation of an organization.
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