List Two Types of Service Companies That Would Benefit from Using

question 83

Essay

List two types of service companies that would benefit from using activity-based management.For each company listed,state the type of cost information management needs to know.
$$\begin{array} { | l | l | } \hline \text { Type of service company } & \begin{array} { c } \text { Cost information management needs to } \\\text { know }\end{array} \\\hline & \\\hline & \\\hline\end{array}$$

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Definitions:

Business Trip

A journey taken for work or professional purposes, often involving travel outside of the usual workplace.

Opportunity Cost

The cost of forgoing the next best alternative when making a decision or choosing to undertake an action.

Monetary Costs

The financial expenses incurred in the production of a good or service, including raw materials, labor, and other expenditures that can be measured in monetary terms.

Lost Options

Alternatives forgone when a decision is made, often considered in opportunity cost analysis.