What Is the Connection Between the Concept of Accountability and Corporate

question 28

Multiple Choice

What is the connection between the concept of accountability and corporate governance?

• A)the board reviews poor decisions and punishes the person responsible
• B)the board delegates decision making to employees but retains ultimate responsibility
• C)decisions are made by the person who needs to act on the decision irrespective of their position in the organisation
• D)board members are only accountable for decisions made by the board.

Understand the usage and importance of cost of production reports in manufacturing operations.

Identify factors affecting operational efficiency and their measurement through various metrics.

Identify and differentiate between job order costing and process costing systems.

Apply the concepts of equivalent units of production in calculating costs in a process costing environment.

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Definitions:

Fiscal Year

A one-year period chosen for accounting purposes, which may or may not align with the calendar year.

Seasonal Period

A specific time frame during the year when a particular industry or business expects a significant change in activity, often tied to seasons.