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Fundamentals of Cost Accounting

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Accounting 111 Pollard Chapter 12 Summary Learning Objectives (L.O): 4 Assignment: Exercises None Problems None Read the sections of the chapter which cover the Learning Objectives listed above and review the PowerPoint slides for the chapter. Use this information to complete this chapter summary. Test your understanding of the material by completing the assignment for the chapter. L.O. 4: Explain the relation between organization structure and responsibility centers. What is responsibility accounting? a system of reporting tailored to organizational structures so that revenues and costs are reported at the level within the organization having the related responsibility How does it support the delegation of decision-making? It supports the delegation of decision- making by providing a basis for measuring managers’ performance in making those decisions Name of Responsibility Center Responsibility Measure of Performance Example Cost center only for costs Managers are responsible for
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Chapter 12 Key - Accounting 111 Pollard Chapter 12 Summary...

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