A Fundamental Principle of Responsibility Accounting Is That

question 18

Multiple Choice

A fundamental principle of responsibility accounting is that

• A)managers are accountable only for items they control
• B)a manager's span of control should not exceed eight people
• C)structured reports should be prepared weekly
• D)the information flow is in one direction, top-down

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Definitions:

Leisure

Free time spent away from work and compulsory activities, often devoted to relaxation, hobbies, and personal enjoyment.

Wage Rate

The amount of compensation an employee receives in exchange for performing a specific job, typically expressed per hour or year.

Endowment

The value that a property generates for its owner; in economics, it often refers to the initial allocation of goods and resources available to individuals.

Consumption

The consumption of products and services by families or personal users.