Responsibility Accounting Is the Concept That

Multiple Choice

Responsibility accounting is the concept that:

A) A firm is responsible for reporting to the public all activities that have a social impact, such as pollution control
B) Each activity within a firm is controlled by a manager who is accountable for costs; costs and revenues; or costs, revenues, and investments, depending on the degree of responsibility assigned
C) A firm should apply generally accepted accounting principles on a basis consistent with preceding years
D) A firm should be objective in accounting and should use historical costs rather than current-value concepts