One Purpose of a Responsibility Accounting System Is to Evaluate

question 83

True/False

One purpose of a responsibility accounting system is to evaluate the performance of center managers.

---

Definitions:

Customer Transactions

All financial transactions between a business and its customers, including sales, returns, and payments.

QBO

QuickBooks Online, a cloud-based accounting software solution for small to medium-sized businesses.

Internal Controls

Processes and procedures implemented by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Non-Inventory Items

Goods or services that a company buys or sells but does not track quantities of, such as supplies or consulting services.