Responsibility reports are prepared:
A) for each manager who controls a responsibility center.
B) only at the end of the accounting period.
C) to identify and punish managers who fail to control their costs.
D) for senior-level managers only.

Question

Quizplus · Accepted Answer

Responsibility reports are prepared for each manager who controls a responsibility center, which is a specific area of a business that the manager is responsible for managing. These reports provide information on the manager's performance and allow management to evaluate their effectiveness in controlling costs and achieving goals.

Responsibility Reports Are Prepared