Question: Explain the seven steps for calculation cost according to the activity-based costing system (ABC) You have to: 1. Explain the concept of ABC. 2. Explain

Explain the seven steps for calculation cost according to the activity-based costing system (ABC) You have to:

1. Explain the concept of ABC.

2. Explain the seven steps by detail

3. Give a numeric example about ABC.

4. Explain by the simple way the differences between ABC and the traditional system and tell me your opinion about which method the firms prefer and why?

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