The first step in designing an activity-based cost system is to develop an activity dictionary.

Name: The first step in designing an activity-based cost system is to develop an activity dictionary.
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Developing an activity dictionary is the first step in designing an activity-based cost system. The activity dictionary identifies and defines the specific activities that are performed within an organization and provides a framework for assigning costs to those activities.

The First Step in Designing an Activity-Based Cost System Is