Cost Accounting Quiz
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PRICING AND PROFITABILITY
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A key difference in managerial focus between Activity-Based Costing (ABC) and Life-Cycle Costing (LCC) is that:
A
ABC is primarily used by service firms, while LCC is primarily used by manufacturing firms.
B
ABC provides a cross-sectional view of costs at a point in time, while LCC provides a longitudinal view of costs over time.
C
ABC focuses on upstream and downstream costs, while LCC focuses only on production costs.
D
ABC is an internal management tool, while LCC is required for external financial reporting.
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