Business Managers Can Use Activity-Based Costing Data to Assist Them

question 120

True/False

Business managers can use activity-based costing data to assist them in pricing and product mix decisions, and in cost management.

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Definitions:

Maslow's Hierarchy

A theory in psychology proposed by Abraham Maslow, suggesting that people are motivated by five basic categories of needs: physiological, safety, love/belonging, esteem, and self-actualization, which must be fulfilled hierarchically.

Physiological Needs

The basic physical requirements for human survival, such as air, water, food, shelter, and sleep, which are the foundation of Maslow's hierarchy of needs.

Basic To Survival

Fundamental needs or activities that are essential for an entity's continued existence and prosperity.

Safety Needs

Second level in Maslow's hierarchy of needs, regarding an individual's requirement for security, protection, and stability in their environment.