A(n) _____ Is Any Group of Individuals Who Have Some

question 1

Multiple Choice

A(n) _____ is any group of individuals who have some stake in the organization's operation or success.

• A)affinity group
• B)strategic constituency
• C)reference group
• D)social group
• E)clique

Understand the fundamental concepts of activity-based costing (ABC) and how it differs from traditional costing systems.

Identify and categorize different types of costs and activities in ABC.

Calculate product costs using an activity-based costing system.

Recognize the benefits and limitations of activity-based costing.

---

Definitions:

Service Industries

Sectors of the economy that provide intangible products, such as healthcare, education, and financial services, to consumers and businesses.

Hybrid Costing System

A costing method that combines elements of both job costing and process costing, suitable for industries producing goods with similar but not identical characteristics.

Service Costing System

An accounting approach designed to allocate costs associated with providing a service, often used by companies that primarily offer services instead of products.

Upstream Activity

Activities in the supply chain or production process that occur before the final manufacture or production stage, often involving the extraction or raw material acquisition.