Responsibility accounting means that a manager should be held responsible for those items in the budget whichHe absorbed as a result of allocationHe can actually control to a significant extentHis unit incurred as a committed costAll of the aboveanother answer for this please answer immediately

Responsibility accounting: the responsibility accounting is a part of managerial accounting where…

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Business

Accounting

Responsibility accounting means that a manager should be held responsible for those items in the budget which

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Budgeted Income Statement

Accounting is the process of recording business-related financial transactions. The process of accounting involves summarizing and analyzing the transactions. The financial statements which are prepared in accounting contain a summary of the various transactions that took place within a certain accounting period. Book-keeping or accounting is one of the most important activities of any business.

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Responsibility accounting means that a manager should be held responsible for those items in the budget 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

another answer for this

please answer immediately

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