The first step in activity-based costing is to identify and classify the activities related to the company's products.

Name: The first step in activity-based costing is to identify and classify the activities related to the company's products.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

In activity-based costing (ABC), the first step is indeed to identify and classify the activities that are involved in the production or delivery of a company's products or services, as these activities are the basis for allocating costs more accurately.

The First Step in Activity-Based Costing Is to Identify and Classify