As you get ready to reflect on these questions, don't forget that the best answers are attempts to apply the concept to a small business and explore how a standard/traditional costing or activity-based costing system would/could be used. What are the benefits and the risks - or how could you adapt it to get the best of both?

Don't forget that, when you draw a blank on a question (or any part of it), take a quick look at the concept on the internet or in the Post Online Library. There will be some great inspiration there that will help you out AND lend some different perspective on the matter! (Don't forget to cite anything that you use!)