Question

An accounting system wherein the operations are broken down into cost centers controllable by a foreman, sales manager, or supervisor, is known as: Select one: a. Control accounting b. Budgetary accounting c. Responsibility accounting d. Allocated cost accounting

Answer 1

The accounting system where the operations are broken out is called responsibility accounting.

The following information related to responsibility accounting is:

• It is the control system in which the responsibility is allocated for controlling the cost.
• The person should be held responsible for controlling the cost.
• Also, the proper authority is provided so that the performance should be checked.
• In this, the operations should also be divided.

Therefore we can conclude that The accounting system where the operations are broken out is called responsibility accounting.

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