Many Organizations Utilize Responsibility Accounting

question 32

Multiple Choice

Many organizations utilize responsibility accounting

• A)to increasing the responsibilities of the accountants.
• B)to assist in performance management and evaluation.
• C)as a substitute to performance measurement.
• D)as an alternative to generally accepted accounting principles.

---

Definitions:

Credit Card

A payment card issued by a financial company giving the holder an option to borrow funds, typically at point of sale.

Factor

A finance company or bank that buys receivables from businesses and then collects the payments directly from the customers.

Receivables

Receivables are amounts of money owed to a company by its customers or other parties for goods or services provided on credit.

Service Charge

A Service Charge is a fee collected to pay for services related to a primary product or service, such as handling fees, maintenance, or repair services.