Responsibility accounting means that a manager should be held resp udget which 1. He absorbed as a result of allocation 2. He can actually control to a significant extent 3. His unit incurred as a committed cost 4. All of the above

Q: I and residual income are too

A: Another measure for measuring management success is residual income, commonly known as economic…

Q: A very key concept in managerial accounting is how costs "behave", either fixed or variable. Once we…

A: Fixed Cost: These are costs that will remain the same irrespective of production or number of units…

Q: 1. Managerial accounting helps managers make planning decisions. Which of the following is related…

A: Comment; We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: For what decisions is the manager of a cost center not responsible?

A: Responsibility of Cost Centre Manager The main responsibility of the cost center managers to…

Q: THE MAIN DIFFERENCE BETWEEN EX-ANTE AND EX-POST ECONOMIC PROFIT a. Representing the opportunity…

A: b. is called the hold-up problem

Q: Why do managers use a standard cost system to control business activities? a) Setting standards…

A: Standards represent the budgeted performance that the company expects to achieve in future. The…

Q: Which of the following statements is true? A cost center is a responsibility center. The basic…

A: A cost center is a responsibility center. This statement is True. A cost center is a responsibility…

Q: Match each of the following with its appropriate term. Controllable factors This is the part of an…

A: An investor center is a unit of business which is responsible for its own assets, income and…

Q: A cost objective is the: O reason for allocating the cost O product, service, or department that is…

A: Cost object is the allocation related to the product, service. It allocate the cost according to the…

Q: A controllable cost is any cost that can be A. segregated B. influenced C. controlled D. excluded by…

A: Costs can be classified into various categories based on their nature, behaviours, characteristics,…

Q: Define the difference in managerial accounting from financial accounting. Plus give an example

A: Answer:- Accounting meaning:- Accounting is the practice of keeping track of a company's financial…

Q: The two dimensions of managerial accounting are:

A: Management accounting provides such financial information and resources for management and investors…

Q: Costs over which a manager has control are called uncontrollable costs. O noncontrollable costs.…

A: Common costs are not related to specific product. It is not in control of Manager.