Executive Information Systems Collect Data from Transactions Such as Sales,purchase

question 27

True/False

Executive information systems collect data from transactions such as sales,purchase from suppliers,and inventory changes and store them in a database.

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Definitions:

Responsibility Centers

Responsibility centers refer to segments within an organization for which individual managers are accountable, focusing on revenue, cost, profit, or investment.

Controllable Cost

A cost over which a manager has control.

Actual Cost

The actual expense incurred to acquire an asset or service, including all costs necessary to bring the asset into use or to complete the service.

Responsibility Accounting

A system of accounting that segments financial information by areas of responsibility within an organization, aiding in budgeting and performance evaluation.