Matching
Match of the following
Premises:
A projection of budget data for various levels of activity.
Costs that a manager has the authority to incur within a given period of time.
A measure of the profitability of an investment center computed by dividing controllable margin (in dollars) by average operating assets.
The use of budgets to control operations.
A responsibility center that incurs costs, generates revenues, and has control over the investment funds available for use.
The review of budget reports by top management directed entirely or primarily to differences between actual results and planned objectives.
A responsibility center that incurs costs and also generates revenues.
Costs that relate specifically to a responsibility center and are incurred for the sole benefit of the center.
Costs which are incurred for the benefit of more than one profit center.
A part of management accounting that involves accumulating and reporting revenues and costs on the basis of the individual manager who has the authority to make the day-to-day decisions about the items.
The preparation of reports for each level of responsibility shown in the company’s organization chart.
A projection of budget data at one level of activity.
Responses:
Direct fixed costs
Investment center
Management by exception
Controllable costs
Budgetary control
Responsibility reporting system
Static budget
Return on Investment
Responsibility accounting
Flexible budget
Profit center
Indirect fixed costs
Correct Answer:
Premises:
Responses:
A projection of budget data for various levels of activity.
Costs that a manager has the authority to incur within a given period of time.
A measure of the profitability of an investment center computed by dividing controllable margin (in dollars) by average operating assets.
The use of budgets to control operations.
A responsibility center that incurs costs, generates revenues, and has control over the investment funds available for use.
The review of budget reports by top management directed entirely or primarily to differences between actual results and planned objectives.
A responsibility center that incurs costs and also generates revenues.
Costs that relate specifically to a responsibility center and are incurred for the sole benefit of the center.
Costs which are incurred for the benefit of more than one profit center.
A part of management accounting that involves accumulating and reporting revenues and costs on the basis of the individual manager who has the authority to make the day-to-day decisions about the items.
The preparation of reports for each level of responsibility shown in the company’s organization chart.
A projection of budget data at one level of activity.
Premises:
A projection of budget data for various levels of activity.
Costs that a manager has the authority to incur within a given period of time.
A measure of the profitability of an investment center computed by dividing controllable margin (in dollars) by average operating assets.
The use of budgets to control operations.
A responsibility center that incurs costs, generates revenues, and has control over the investment funds available for use.
The review of budget reports by top management directed entirely or primarily to differences between actual results and planned objectives.
A responsibility center that incurs costs and also generates revenues.
Costs that relate specifically to a responsibility center and are incurred for the sole benefit of the center.
Costs which are incurred for the benefit of more than one profit center.
A part of management accounting that involves accumulating and reporting revenues and costs on the basis of the individual manager who has the authority to make the day-to-day decisions about the items.
The preparation of reports for each level of responsibility shown in the company’s organization chart.
A projection of budget data at one level of activity.
Responses:
Related Questions
Q201: In general costs _ directly by the
Q202: A cost is _ at a given
Q203: The master budget and flexible budgets are
Q204: What is responsibility accounting? Explain the purpose
Q205: Responsibility centers may be classified into three
Q207: Eiger Manufacturing manufactures circuit boards for computer-controlled
Q208: The primary basis for evaluating the performance
Q209: Managers are motivated to accomplish objectives if
Q210: Dixon Corporation evaluates its managers based on
Q211: Return on investment is calculated by dividing
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents