In activity-based costing, each major activity has its own overhead cost pool, its own activity measure, and its own overhead rate.

This statement is true in activity-based costing. The purpose of assigning overhead costs to specific activities is to obtain a more accurate cost of producing products or services. Each major activity is assigned its own overhead cost pool, typically based on the resources consumed or the cost drivers used. An appropriate activity measure is also selected for each activity pool and used to allocate overhead costs to the products or services that use or benefit from the activities. This approach allows for more precise cost information and better decision-making.