The system which measures the budget, action and plan of each responsibility center is known as ___________?
Correct answer: D. responsibility accounting
- A. budgeted accounting
- B. action accounting
- C. planned accounting
- D. responsibility accounting
Explanation
Responsibility accounting measures and reports the budgets, actions, and performance of individual responsibility centers. It assigns accountability according to the manager's area of control.
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About Cost Accounting
Cost accounting measures and analyses the cost of producing goods or providing services for planning, control and pricing decisions. It covers direct and indirect costs, fixed and variable costs, job and process costing, break-even analysis, marginal costing, overhead allocation, and the difference between product cost and period cost.
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