Which of the Following Are True Regarding Activity-Based Costing (ABC)

question 27

Multiple Choice

Which of the following are true regarding activity-based costing (ABC) ?

• A)ABC deals with learning about the cost of activities.
• B)ABC rests on the premise that products require activities.
• C)ABC rests on the premise that activities consume resources.
• D)All of the answers are correct.

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Definitions:

Work Opportunity Reconciliation Act

Legislation in the United States that aims to encourage employers to hire less qualified job seekers, including long-term welfare recipients, by offering federal tax credits.

Welfare Benefits

Financial or material aid provided by the government to individuals or groups in need.

Medicare

A federal health insurance program in the United States primarily for people aged 65 and over, as well as for some younger people with disabilities.

Medicaid

A social health care program for families and individuals with low income and resources in the United States.