The Fundamental Purpose of Responsibility Accounting Is to Fix Blame

question 203

True/False

The fundamental purpose of responsibility accounting is to fix blame when budgets are not achieved.

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Definitions:

Oil

A natural resource used as a primary energy source and raw material in various industries, whose market dynamics significantly influence global economics.

Profit/Loss

The financial result obtained when revenues exceed expenses (profit) or expenses exceed revenues (loss).

DAX-30 Index Futures

Financial contracts to buy or sell the DAX 30 index at a future date, used for hedging or speculating on the German stock market.

Spot Index

A real-time index that reflects the current prices of the securities included in the index.