Which of the following is correct? * . O The direct cost of a particular department is always a controllable cost. Responsibility accounting identifies costs, revenues, and even capital investments with individuals, e.g. managers, and thus provides for more control and evaluation of performance. D All managers within an organization have equal authority and responsibility. Internal reports prepared under the responsibility accounting system should be limited to variable manufacturing costs.

Which of the following is correct? * . O The direct cost of a particular department is always a controllable cost. Responsibility accounting identifies costs, revenues, and even capital investments with individuals, e.g. managers, and thus provides for more control and evaluation of performance. D All managers within an organization have equal authority and responsibility. Internal reports prepared under the responsibility accounting system should be limited to variable manufacturing costs.

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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