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:

Market Strategy

A comprehensive plan that outlines how a business will reach potential consumers and turn them into customers of their products or services.

Social Responsibility

The ethical framework suggesting that individuals or organizations have an obligation to act for the benefit of society at large.

Demand Legitimacy

The perceived appropriateness and justification of a demand or request made by stakeholders based on societal norms and values.

Stakeholders

Individuals or groups with an interest or concern in the success of an organization, project, or endeavor, including employees, customers, investors, and the community.