Responsibility accounting authorizes managers to take control of and be held accountable for the revenues and expenses in their budgets.

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Quizplus · Accepted Answer

Responsibility accounting is a type of management accounting that delegates responsibility to individual managers or departments for specific aspects of a firm's operations, including revenues and expenses. This allows managers to have greater control over their budgets and be held accountable for their financial performance. Therefore, the statement is true.

Responsibility Accounting Authorizes Managers to Take Control of and Be