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What is an ABC system? a) A system of costing that determines standards for material, labor and overhead through time and motion studies. b) A

What is an ABC system?

a) A system of costing that determines standards for material, labor and overhead through time and motion studies.

b) A costing system that determines how work activities are used and assigns costs of activities to products that caused the activities and their related costs.

c) It is a system of preparing financial statements for external users.

d) It is a management system that effectively utilizes capacity and allocates it to products with greatest profits.

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