Which of the Following Is Not an Essential Element of Responsibility

question 35

Multiple Choice

Which of the following is not an essential element of responsibility accounting?

• A)assigning responsibility
• B)establishing performance measures
• C)evaluating performance
• D)ridiculing poor performers

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Definitions:

Perfectly Competitive

A market structure characterized by many buyers and sellers, homogeneous products, free entry and exit, and perfect information that leads to all firms receiving the same price for their product.

Kansas Corn Market

The market environment in which corn, as an agricultural product, is traded, bought, and sold within the state of Kansas.

Easy Entry

A market condition where new competitors can join the market with minimal barriers or obstacles.

Industry

A classification that refers to a group of companies that are related based on their primary business activities.