The correct answer is: B. Cost centre-wise
Responsibility accounting is a system of accounting that focuses on the costs and revenues that are controllable by a particular manager. This system allows managers to be held accountable for their performance and to make decisions that will improve the profitability of their organization.
Cost centers are areas of an organization where costs are incurred but no revenues are generated. Examples of cost centers include production departments, marketing departments, and research and development departments.
Responsibility accounting systems collect and report costing information on a cost center-by-cost center basis. This information allows managers to track the costs of their respective cost centers and to identify areas where costs can be reduced.
The other options are incorrect because they do not focus on the costs that are controllable by a particular manager. Option A, department-wise, is incorrect because it does not take into account the fact that costs can be incurred in multiple departments. Option C, function-wise, is incorrect because it does not take into account the fact that costs can be incurred in multiple functions. Option D, product-wise, is incorrect because it does not take into account the fact that costs can be incurred for multiple products.