Distinguish between responsibility, authority, and accountability.

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: Distinguish between quantitative and qualitative factors in decision making.

A: Qualitative Factor:Qualitative factors are those factors which cannot be expressed in the financial…

Q: What are the responsibilities of an originator?

A: The originator's responsibilities are: Originator communicates with all borrowers of mortgage loans…

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: Define each of the following terms:a. Agent; principal; agency relationship

A: Answer: Agent: An agent is one who provides work on principal’s behalf.  Principal authorizes agent…

Q: Whaat is accountability

A: The transactions that are happened in the company will be analyzed, and recorded in the first book…

Q: What are agency problems?

A: Owners of the company are shareholders. The number of the shareholders for a corporation will be…

Q: Explain Regulatory Provisions?

A: Regulations: The regulation is processed by which a complex system is managed under a set of rules.

Q: What is responsibility accounting?

A:

Q: Explain how materiality affectsaudit reporting decisions.

A: American Institute of Certified Public Accountants (AICPA): AICPA is the organization which supports…

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

A:

Q: Explain principal (agency relationships)

A: Answer: Agent: An agent is one who provides work on principal’s behalf.  Principal approves agent to…

Q: Can responsibility be delegated? Explain?

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

Q: Essay about The Importance of Accountability

A: Accountability means to take the responsibility by a person for their own actions. The accountable…

Q: e the use of pro forma statements in informed decision-making?

A: Step 1When it comes to accounting, pro forma statements are the financial statements of your…

Q: Accountability in

A: Accountability is assigning roles and responsibilities of persons regarding work done by them.

Q: Define the concept of going concern?

A: Going concern Concept: The basic principle of this concept is that business is assumed to exist for…

Q: agency problem

A: The concept of Agency is established between two persons, i.e. a principal and an agent. The…

Q: What are the similarities of the Autocratic Model, custodial Model, Supportive Model, Collegial…

A: Management and owners have official authority to govern the work and the workers that work for them…

Q: What is discretionary reporting?

A:

Q: What are two objectives that enable reports to be considered useful?

A: Report: It can be defined as the document that assists the users and the management in providing…

Q: istinguish between responsibility, authority, and accountabilit

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

Q: on based

A: There are three main models of the judicial decision-making that explain how judges come to a…

Q: se explain it properly

A: Given: To find the capital balances as, Capital Balances of Banner = P 65,000 and Strange = P 35,000…

Q: Explain the differences between planning, directing, and controlling.

A: Planning: It means thinking in advance what to do, when to do and how the actions would take place…

Q: What is the objective of having a conceptual framework?

A: Conceptual framework means set of rules and guidelines that help the users and preparers in…

Q: Who are stakeholders?

A: Stock: It refers to a security issued in a form of certificate. It implies the right of ownership of…

Q: What is meant by the term responsibility accounting?

A: Introduction: responsibility accounting is the process of the controlling the cost by giving the…

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

A: Business Management:   Business management refers to the skills associated with running a company…

Q: How much is the total accountability?

A: Financial accountability means that the performance of a certain function shall be borne by a person…

Q: What is accountability

A: The transactions that are happened in the company will be analyzed, and recorded in the first book…

Q: Explain what social responsibility is and the impact it has on stakeholders.

A: Social responsibility in terms of business refers to the social accountability that a business…

Q: Explain professional association (PA)?

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

Q: In general, relevant information possesses which qualities?

A: Relevance is an important characteristic of accounting information. It refers to how helpful the…

Q: Distinguish between responsibility, authority, and accountability. Which flow upward and which flow…

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

Q: What makes information relevant to decision making?

A: The information that is essential to occur in the future and is different from the identified…

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: mples) through w

A: The Agency systemThe Agency device may be very popular in the modern-day commercial enterprise…

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: WHAT ARE SOME EXAMPLES OF POLICY CREDITS AND ADMINISTRATIVE GUIDANCE

A: Policy credits: The credit limit portion specifies the maximum amount of credit that consumers will…

Q: What are the two phases of responsibility accounting?

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

Q: Distinguish between ethical issues and legal issues.

A: Definition:   Ethics: Ethics are moral obligations that are enforced by society or personal beliefs.…

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…