Managers Are Said to Be ________ When They Perform Activities

question 10

Multiple Choice

Managers are said to be ________ when they perform activities they are obligated to perform.

• A)accountable
• B)authoritative
• C)responsible
• D)efficient
• E)organized

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Definitions:

Income Statement

A financial statement that reports a company's financial performance over a specific accounting period, detailing revenues, expenses, and profit or loss.

Standard Direct Materials

The predetermined cost and quantity of direct materials that are expected to be used in the production of a product.

Direct Materials Price

The cost per unit of raw materials used in the production of goods.

Standard Costs

predetermined costs assigned to goods and services, used as a benchmark for measuring performance.