The process of identifying what parts of the organization have primary responsibility for each objective, developing measures of achievement and objectives, and creating reports of these measures by organization subunit or responsibility centre is known as
A) financial accounting.
B) management accounting.
C) total quality accounting.
D) responsibility accounting.

Question

Quizplus · Accepted Answer

Responsibility accounting involves identifying the parts of an organization that are responsible for achieving specific objectives and creating reports to track their progress. This process includes developing measures of achievement and objectives for each responsibility center, which can be used to evaluate performance and allocate resources. Financial accounting focuses on reporting an organization's financial performance and position to external stakeholders, while management accounting focuses on providing information to internal stakeholders to aid in decision-making. Total quality accounting is a specific approach to accounting that focuses on improving product and service quality through measuring and managing quality-related costs.

The Process of Identifying What Parts of the Organization Have