What is meant by the term responsibility accounting?

Q: Which of the following is the impact of agency cost?

A: Agency costs are internal costs incurred due to the competing interests of Shareholder i.e the…

Q: Explain what is meant by: The benefits of accounting information must exceed the costs.

A:

Q: Describe the basic assumptions of accounting.

A: Accounting is a systematic process of identifying, recording, measuring, classifying, verifying,…

Q: what are the charatristics of accounting

A: The answer is as fallows

Q: What is responsibility accounting?

A:

Q: What is meant by the phrase management by exception?

A:

Q: Which of the following are considered secondary characteristics of accounting information? a.…

A: Accounting information is used by various users for different purposes. The primary characteristics…

Q: What is managing underwriter?

A: Managing Underwriter: The leading company in a guaranteeing group, which creates the transaction and…

Q: What is accounting base on

A: The term that is related to the recording of the business transactions, summarizing the data, and…

Q: What is fair value accounting?

A: The accounting is a process to identify the transactions, classify and record the transactions and…

Q: Explain the costbenefits principles and how this affects the reliability and relevance of the…

A: Relevance refers to the concept or an idea that whatever information that is provided by the…

Q: Can responsibility be delegated? Explain?

A: No,authority can be delegated but responsibility is absolute and cannot be delegated.

Q: What is the differences between finacial accounting and managerial accounting ?

A: Financial Accounting v/s Managerial accounting

Q: How efficient is an Analysis at the account level technique?

A: The question is to discuss efficiency of financial analysis at account level or based on the data…

Q: What are the three steps in designing accounting-based performance measures?

A: Accounting based performance measures: Accounting based performance measures can be defined as…

Q: What is meant by the term “qualitative characteristics of accounting information”?

A: Qualitative Characteristics of Accounting Information System: Qualitative characteristics are what…

Q: hat are the relationship between framing effect and mental accounting?

A: Mental Accounting: Mental accounting refers to the various values an individual places on the same…

Q: What is the difference between a financial accounting information system and a cost management…

A: Financial accounting and Cost accounting are two different systems in accounting, which are used for…

Q: Explain accounting domain with example

A: Accounting domain is the wide range of accounting including its all branches like financial…

Q: Explain whether the cost of accounting systems primarily support internal or external reporting

A: Cost Accounting System: Cost accounting system can be defined as a framework designed by the…

Q: nship or differences between Accounting and accountability?

A: Accounting: Every business has various types of transactions like monetary, goods and services. To…

Q: What is a mixed attribute measurement model? Why is it used in accounting?

A: (1) It is a measurement basis that is used to measure the value of assets and liabilities under "US…

Q: What are the two of the qualitative characteristics of accounting information that contribute to its…

A:

Q: What is the importance of Responsibility Accounting?

A: Responsibility accounting is an essential thought of accounting execution assessment structures. The…

Q: Responsibility Accounting Essay

A: The word "responsibility accounting" refers to an accounting system that gathers, summarizes, and…

Q: Is the matching of costs and revenue a basic accounting principle?

A: Accounting Principle: The set rules which defines the way account should be prepared is known…

Q: w accounting standards in

A: the financial statements of a company are expected to present a true and fair view on the financial…

Q: What is the purpose of a responsibility accounting system?

A: Responsibility accounting system: the responsibility accounting system is an internal system that…

Q: Distinguish between responsibility, authority, and accountability.

A: Responsibility: When a sub-ordinate is obligated to perform the duties assigned to him, it becomes…

Q: Under what type of responsibility would cost accounting go under? managerial accounting, tax…

A: Cost accounting is a branch of accounting which is used to determine the costs of different…

Q: What is management's responsibility with respect to the financial statements?

A: Financial Statements: A financial statement is a complete record of the financial transactions that…

Q: what is creative accounting ?

A: Creative Accounting: It refers to those accounting practices which try to present company's…

Q: What are the two phases of responsibility accounting?

A: Responsibility Accounting: The management of responsibility centers by the means of pre-determined…

Q: What is the difference between accounting and auditing?

A:

Q: Define accounting income

A: Income: It can be defined as the amount received by the business or an individual from selling its…

Q: Define agency problems, and describe how they give rise to agency costs.

A: Agency problems occur when the managers use the firm's resources to invest in projects that may not…

Q: Explain the accounting constraint of materiality.

A: