What Are the Three Defining Characteristics of DSSs

question 20

Essay

What are the three defining characteristics of DSSs?

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Definitions:

Absorption Costing

A method of accounting that incorporates all costs associated with manufacturing, such as direct materials, direct labor, and both variable and fixed overhead, into a product's price.

Internal Management

The process and practice of effectively running an organisation by its own executives and staff, focusing on policies, strategies, and resource allocation.

External Reporting

The process of preparing and disclosing financial statements and other reports to stakeholders outside the organization.

Variable Costing

An accounting method that includes only variable production costs—direct materials, direct labor, and variable manufacturing overhead—in product costs.