Which of the Following Statements Is True About Responsibility Accounting

question 149

Multiple Choice

Which of the following statements is true about responsibility accounting statements?

• A) Responsibility accounting excludes controllable costs.
• B) Responsibility accounting segregates fixed costs and variable costs.
• C) Responsibility accounting excludes fixed costs and variable costs.
• D) Responsibility accounting segregates uncontrollable costs from controllable costs.

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Definitions:

Exchange Rate

The value of one currency for the purpose of conversion to another. It indicates how much of one currency can be exchanged for another currency.

Risk

Risk refers to the potential of losing some or all of an investment due to various factors such as economic changes, market volatility, or company performance.

Business Transaction

An economic event or activity that changes a company's financial position or earnings, often involving exchanges of value.

Gain

Gain refers to an increase in the value of an investment or asset, resulting in a financial profit when the asset is sold or valued.