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Define activity-based costing (ABC) systems. What benefits does implementing an ABC system bring to a company? Explain at least two benefits. What are the disadvantages

Define activity-based costing (ABC) systems. What benefits does implementing an ABC system bring to a company? Explain at least two benefits. What are the disadvantages of implementing an ABC system? List and explain at least two. Would the proposed changes make ABC a universally applicable costing method in your opinion? Why or why not? Elaborate your response.

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