Which Description Listed Below Best Defines "Responsibility Accounting

question 93

Multiple Choice

Which description listed below best defines "responsibility accounting"?

• A)A system for evaluating the performance of each responsibility center and its manager
• B)A budget that projects cash inflows and outflows and the end of period budgeted balance sheet
• C)Details as to how the company expects to go from the beginning cash balance to the desired ending cash balance
• D)A company's plan for purchases of property,plant and equipment,and other long-term assets

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Definitions:

Marginal Cost

Marginal cost is the increase in total cost that arises from producing one additional unit of a good or service.

Lawn-mowing

The act of cutting grass to a uniform length, often done as routine maintenance for residential and commercial landscapes.

Perfectly Competitive

Describes a market structure where there are many buyers and sellers, all selling homogeneous products, with no single buyer or seller able to influence the market price.

Fixed Cost

Expenses that do not change with the level of production or sales, such as rent, salaries, and insurance premiums.