A facility Manager is applying the concept of best value in assessing different vendor proposals for the cafeteria and vending areas in a property. Which of the following evaluation criteria for the sourcing decision exemplifies best value?

(a) Anticipated retention of existing tenants and attractiveness to prospective clients

(b) strict adherence to customary practices and procedures for outsourcing common support area services

(c) The inclusion of non-discriminatory specifications and a transparent, open bidding process

(d) Hard and soft measures and a comparison of all costs with required quality

Which of the following statements correctly describes activity-based costing (ABC)?

(a) Uses responsibility centers as a key cost object

(b) assigns costs to final cost objects based on cost drivers

(c) includes the cost of all traceable activities

(d) assigns predetermined overhead costs to products produced or services provided