ACTIVITY BASED MANAGEMENT (ABM) converts Activity Based Costing (ABC) into a system to manage an organization. Activity Based Management not only focuses on product, service, customer, channel costing, it also emphasizes: cost drivers (root cause analysis), action plans to improve to achieve strategic objectives, and, performance measures for activities and processes.
APPLICATION RATE is the quantity (mass, volume or thickness) of material applied per unit area.
INSOLVENCY occurs when a business is unable to pay debts as they fall due.
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