Which of the following is not a characteristic of an effective responsibility accounting system? a) Reports that set goals for long-term strategic performance b) Reports that show revenue and/or expense items under a manager's control c) Reports that show budgeted and actual amounts of controllable revenue and expense items O d) Reports that highlight areas that need corrective action

Which of the following is not a characteristic of an effective responsibility accounting system? a) Reports that set goals for long-term strategic performance b) Reports that show revenue and/or expense items under a manager's control c) Reports that show budgeted and actual amounts of controllable revenue and expense items O d) Reports that highlight areas that need corrective action

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter25: Departmental Accounting

Section: Chapter Questions

Problem 3MC

See similar textbooks

Similar questions

Which function is not contained in the management accounting department? a. Cost accountingb. Financial accountingc. Budgetingd. system studye, answer not given
Which of the following is the basic purpose of a responsibility accounting?a. variance analysisb. motivationc. authorityd. budgetinge. pricing
Describe a strategic-based responsibility accounting system. How does it differ fromactivity-based responsibility accounting?
A responsibility accounting system utilizes and assigns costs on the basis of their a. controllability b. variability c. timing of recognition d. traceability
1. Explain the concept of responsibility accounting and its relation with budgeting.2. Explain how the choice of the type of responsibility center (cost, revenue, profit, orinvestment) affects behavior.3. Discuss the concept of “budgetary slack”
1. The organizational process of budgeting performs several important functions. Which is true? A. Assigns decision rights B. Shares knowiedge C. Measures performance D. All of the choices are correct
1. The GIFMIS interfaces with a number of systems and sub-systems. A number of these systems and sub-systems are listed below. Provide in full the meaning of these abbreviations and tell briefly how they interface with the GIFMIS. a. Program Based Budgeting (PBB) b. Payroll & HuRMIS (PSC) c. CS-DMRS (DMD-MOF) d. E-Monitor (Non-Tax Revenue-MoF) e. PIMS (PID-MoF) f. TRIPS & GCMS (GRA) g. T-24& SWIFT (BoG) h. E-Procurement (Public Procurement Authority)
Which of the following characteristics does NOT pertain to management accounting?A. Has externally imposed standardsB. Provides information and estimates about future activityC. Provides financial and operating data multidisciplinary in scopeD. Generates specific-purpose financial statements and reports
Which of the following is not a management report?A.Sales by product actual versus budget B. Department spending actual versus budget C. Income statement D. Accounts receivable aging
Identify the false statement related to elements of budgeting: a. System of reporting should be made optional. b. Availability of working capital should be ensured. c. Good system of accounting should be maintained. d. Authority and responsibility should be properly fixed
Another term used for performance audit is *a. Agency activity auditb. Value for money auditc. Program implementation auditd. Regulation compliance audit
Explain and give example of the following Management Reports Procedures Activities: Budget vs. Actual Report