The Unique Feature of an ABC System Is the Emphasis

question 174

Multiple Choice

The unique feature of an ABC system is the emphasis on ________.

• A) costing individual jobs
• B) department indirect-cost rates
• C) multiple-cost pools
• D) individual activities

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Definitions:

Internal Control System

A set of procedures and mechanisms implemented by a business to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Cost-Benefit

An analysis or assessment comparing the costs and benefits of a decision or project to determine its feasibility or worthiness.

Human Error

Mistakes made by individuals in performing tasks or making decisions, often leading to deviations from intended outcomes or processes.

Control Activity

Actions, policies, and procedures that are implemented to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.