Which of the following indirect costs can be included as a product cost under activity-based costing but should not be included as a product cost according to GAAP?

The question seems to be missing the list of options for "the following indirect costs". However, I can explain the difference between activity-based costing (ABC) and Generally Accepted Accounting Principles (GAAP) in terms of product cost.

1. Activity-Based Costing (ABC): This is a method of assigning overhead and indirect costs—such as salaries and utilities—to products and services. The ABC system of cost accounting is based on activities, which is any event, unit of work, or task with a specific goal.

2. Generally Accepted Accounting Principles (GAAP): These are a collection of commonly-followed accounting rules and standards for financial reporting. According to GAAP, product costs include direct labor, direct materials, and manufacturing overhead.

The main difference between the two is that ABC includes more indirect costs as product costs, such as administrative expenses, that are not included under GAAP. GAAP only allows for the capitalization of costs that are directly tied to the production of goods, while ABC allows for the capitalization of more indirect costs.

So, an example of an indirect cost that can be included as a product cost under ABC but not under GAAP could be certain administrative expenses that can be linked to specific activities related to the production of a product. However, without the specific options, it's hard to give a definitive answer.