The type of accounting, which focuses on whom should be asked for information and whom not, will be categorized as ____________?
Correct answer: B. responsibility accounting
- A. focused accounting
- B. responsibility accounting
- C. information accounting
- D. blame accounting
Explanation
Responsibility accounting assigns information and accountability to the managers responsible for particular activities or cost centres. It helps identify whom to consult about performance rather than simply assigning blame.
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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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