{"id":56686,"date":"2024-04-16T00:48:58","date_gmt":"2024-04-16T00:48:58","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=56686"},"modified":"2024-04-16T00:48:58","modified_gmt":"2024-04-16T00:48:58","slug":"which-of-the-following-are-the-benefits-of-responsibility-accounting-i-it-facilitates-the-centralization-of-decision-making-ii-it-provides-a-system-of-closer-control-iii-it-measures-the-performa","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-are-the-benefits-of-responsibility-accounting-i-it-facilitates-the-centralization-of-decision-making-ii-it-provides-a-system-of-closer-control-iii-it-measures-the-performa\/","title":{"rendered":"Which of the following are the benefits of responsibility accounting? I. It facilitates the centralization of decision-making. II. It provides a system of closer control. III. It measures the performance of individuals in an objective manner. IV. It develops a sense of cost-consciousness among managers and their subordinates."},"content":{"rendered":"<p>[amp_mcq option1=&#8221;I, II and III&#8221; option2=&#8221;II, III and IV&#8221; option3=&#8221;I, II and IV&#8221; option4=&#8221;I, III and IV&#8221; correct=&#8221;option4&#8243;]<!--more--><\/p>\n<p>The correct answer is D. I, III and IV.<\/p>\n<p>Responsibility accounting is a system that measures the performance of each responsibility center and assigns responsibility for the costs and revenues incurred in that center. It is a tool that can be used to improve decision-making, control costs, and motivate managers and employees.<\/p>\n<p>The benefits of responsibility accounting include:<\/p>\n<ul>\n<li>It facilitates the centralization of decision-making. By assigning responsibility for costs and revenues to specific individuals or departments, responsibility accounting can help to ensure that decisions are made by those who are most knowledgeable about the situation.<\/li>\n<li>It provides a system of closer control. By tracking costs and revenues at the responsibility center level, responsibility accounting can help managers to identify areas where costs are out of control and to take corrective action.<\/li>\n<li>It measures the performance of individuals in an objective manner. By assigning responsibility for costs and revenues to specific individuals, responsibility accounting can help to measure their performance in a fair and objective manner.<\/li>\n<li>It develops a sense of cost-consciousness among managers and their subordinates. By making managers responsible for the costs incurred in their areas, responsibility accounting can help to create a sense of cost-consciousness and to motivate them to control costs.<\/li>\n<\/ul>\n<p>Option I is incorrect because responsibility accounting does not necessarily facilitate the centralization of decision-making. In fact, it can be used to decentralize decision-making by giving managers of responsibility centers the authority to make decisions about the costs and revenues in their areas.<\/p>\n<p>Option II is correct because responsibility accounting does provide a system of closer control. By tracking costs and revenues at the responsibility center level, responsibility accounting can help managers to identify areas where costs are out of control and to take corrective action.<\/p>\n<p>Option III is correct because responsibility accounting does measure the performance of individuals in an objective manner. By assigning responsibility for costs and revenues to specific individuals, responsibility accounting can help to measure their performance in a fair and objective manner.<\/p>\n<p>Option IV is correct because responsibility accounting does develop a sense of cost-consciousness among managers and their subordinates. By making managers responsible for the costs incurred in their areas, responsibility accounting can help to create a sense of cost-consciousness and to motivate them to control costs.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;I, II and III&#8221; option2=&#8221;II, III and IV&#8221; option3=&#8221;I, II and IV&#8221; option4=&#8221;I, III and IV&#8221; correct=&#8221;option4&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[952],"tags":[],"class_list":["post-56686","post","type-post","status-publish","format-standard","hentry","category-costing","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Which of the following are the benefits of responsibility accounting? I. 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I. It facilitates the centralization of decision-making. II. It provides a system of closer control. III. It measures the performance of individuals in an objective manner. IV. It develops a sense of cost-consciousness among managers and their subordinates.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-are-the-benefits-of-responsibility-accounting-i-it-facilitates-the-centralization-of-decision-making-ii-it-provides-a-system-of-closer-control-iii-it-measures-the-performa\/","og_locale":"en_US","og_type":"article","og_title":"Which of the following are the benefits of responsibility accounting? I. It facilitates the centralization of decision-making. II. It provides a system of closer control. III. It measures the performance of individuals in an objective manner. IV. 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