An Accounting System That Is Set Up to Control Costs

question 135

Multiple Choice

An accounting system that is set up to control costs and evaluate managers' performance by assigning costs to the managers responsible for controlling them is called a:

• A)Cost accounting system.
• B)Managerial accounting system.
• C)Responsibility accounting system.
• D)Financial accounting system.
• E)Activity-based accounting system.

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Definitions:

Mountain Ranges

Chains or clusters of mountains that are formed by tectonic plate interactions or volcanic activity.

Continental Collision

The process whereby two continental plates collide, leading to mountain building and seismic activity.

Subduction

The process by which one tectonic plate moves beneath another plate and sinks into the mantle due to gravitational forces.

Conduction

The process by which heat or electricity is directly transmitted through a substance when there is a difference of temperature or electrical potential.