Question

Responsibility accounting aims at collecting and reporting costing information ____________ .

• A. Department-wise
• B. Cost centre-wise
• C. Function-wise
• D. Product-wise

Answer 1

Answer: (B)

Cost centre-wise

Responsibility accounting is a system of collecting and presenting of accounting data that segregates and identifies revenue and /or cost and the resultant profitability with the areas of personal responsibility in order to evaluate the performance of persons to whom responsibility has been assigned.