An Accounting System That Is Set Up to Control Costs

question 166

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(n) :

• 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:

FICA-Social Security

A U.S. government program funded by payroll taxes, providing retirement benefits, disability income, and survivor benefits.