All of the Following Describe an ABC System Except

question 105

Multiple Choice

All of the following describe an ABC system except

• A)ABC systems may only be used by service companies.
• B)ABC systems can create more accurate product costs.
• C)ABC systems are more complex and costly than traditional costing systems.
• D)ABC systems are used in both manufacturing and nonmanufacturing companies.

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Definitions:

Government Regulations

Laws and rules established by government bodies intended to control or dictate behaviors and practices within society or specific industries, with the aim of protecting public interest, safety, and well-being.

Ethics Management

The systematic approach to understanding, implementing, and upholding ethical principles and standards in an organization, ensuring all actions align with agreed-upon moral values.

Disclaimer

A statement intended to specify or delimit the scope of rights and obligations that may be exercised and enforced by parties in a legally recognized relationship.

Audit Statement

A formal opinion or report issued by an auditor based on an evaluation of a company's financial statements, assessing their accuracy and compliance with applicable standards and regulations.