Responsibility accounting: It is the ethical responsibility of an accountant that he has to those who rely on his work. The persons are made responsible for the control of cost. Responsibility creates cost center, profit center, and revenue center. In the decentralized environment, it is required for persons taking decisions should be held responsible for the same. And, the performance of every area should be monitored. The example of a company whose responsibility centers would likely be created on basis of functional area, product line, and geographic area.

Question

Want to see the full answer?

Answer 1

Question

Chapter 10, Problem 3ME

To determine

Concept introduction:

Responsibility accounting:

It is the ethical responsibility of an accountant that he has to those who rely on his work. The persons are made responsible for the control of cost. Responsibility creates cost center, profit center, and revenue center. In the decentralized environment, it is required for persons taking decisions should be held responsible for the same. And, the performance of every area should be monitored.

The example of a company whose responsibility centers would likely be created on basis of functional area, product line, and geographic area.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 2

Question

Chapter 10, Problem 3ME

To determine

Concept introduction:

Responsibility accounting:

It is the ethical responsibility of an accountant that he has to those who rely on his work. The persons are made responsible for the control of cost. Responsibility creates cost center, profit center, and revenue center. In the decentralized environment, it is required for persons taking decisions should be held responsible for the same. And, the performance of every area should be monitored.

The example of a company whose responsibility centers would likely be created on basis of functional area, product line, and geographic area.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 10, Problem 3ME

To determine

Concept introduction:

Responsibility accounting:

It is the ethical responsibility of an accountant that he has to those who rely on his work. The persons are made responsible for the control of cost. Responsibility creates cost center, profit center, and revenue center. In the decentralized environment, it is required for persons taking decisions should be held responsible for the same. And, the performance of every area should be monitored.

The example of a company whose responsibility centers would likely be created on basis of functional area, product line, and geographic area.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 10, Problem 3ME

To determine

Concept introduction:

Responsibility accounting:

It is the ethical responsibility of an accountant that he has to those who rely on his work. The persons are made responsible for the control of cost. Responsibility creates cost center, profit center, and revenue center. In the decentralized environment, it is required for persons taking decisions should be held responsible for the same. And, the performance of every area should be monitored.

The example of a company whose responsibility centers would likely be created on basis of functional area, product line, and geographic area.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 5

Chapter 10, Problem 3ME

To determine

Concept introduction:

Responsibility accounting:

It is the ethical responsibility of an accountant that he has to those who rely on his work. The persons are made responsible for the control of cost. Responsibility creates cost center, profit center, and revenue center. In the decentralized environment, it is required for persons taking decisions should be held responsible for the same. And, the performance of every area should be monitored.

The example of a company whose responsibility centers would likely be created on basis of functional area, product line, and geographic area.

Answer 6

Chapter 10, Problem 3ME

To determine

Concept introduction:

Responsibility accounting:

It is the ethical responsibility of an accountant that he has to those who rely on his work. The persons are made responsible for the control of cost. Responsibility creates cost center, profit center, and revenue center. In the decentralized environment, it is required for persons taking decisions should be held responsible for the same. And, the performance of every area should be monitored.

The example of a company whose responsibility centers would likely be created on basis of functional area, product line, and geographic area.

Answer 7

Chapter 10, Problem 3ME

To determine

Concept introduction:

Responsibility accounting:

It is the ethical responsibility of an accountant that he has to those who rely on his work. The persons are made responsible for the control of cost. Responsibility creates cost center, profit center, and revenue center. In the decentralized environment, it is required for persons taking decisions should be held responsible for the same. And, the performance of every area should be monitored.

The example of a company whose responsibility centers would likely be created on basis of functional area, product line, and geographic area.

Answer 8

Expert Solution & Answer

Answer 9

Expert Solution & Answer

Answer 10

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 11

Ch. 10 - Explain how centralized and decentralized...Ch. 10 - Why does decentralization create the need for...Ch. 10 - What is the controllability principle and why is...Ch. 10 - Prob. 4Q Ch. 10 - Prob. 5Q Ch. 10 - Prob. 6Q Ch. 10 - Prob. 7Q Ch. 10 - Prob. 8Q Ch. 10 - Return on investment may be separated into two...Ch. 10 - Prob. 10Q

Solution Summary: The author explains that responsibility accounting is the ethical responsibility of an accountant to those who rely on his work.

Videos

Want to see the full answer?

Chapter 10 Solutions