The Basic Idea Underlying Responsibility Accounting Is That a Manager

question 89

True/False

The basic idea underlying responsibility accounting is that a manager should be held responsible for those items-and only those items-that the manager can actually control to a significant extent.

---

Definitions:

Oligopoly

A market structure in which only a few sellers offer similar or identical products.

Monopoly Outcome

A market situation where a single firm dominates production and sales, leading to potential inefficiency and higher prices.

Nash Equilibrium

A situation in which economic actors interacting with one another each choose their best strategy given the strategies that all the other actors have chosen.

Price Effect

The impact that a change in the price of a good or service has on consumer demand for that good or service.