Indicate whether each of the following statements is true or false.
Cost centers tend to be found in the upper levels of a company's organization chart.______
Managers of investment centers are accountable for assets,liabilities,and earnings.______
Responsibility reports are prepared only for the top-level managers of a business because they are responsible for the business as a whole.______
Responsibility reports often show actual and budgeted revenues and expenses and the amounts of any variances.______
Responsibility accounting reports are arranged using the management by exception approach.______

Question

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The Answer of Indicate whether each of the following statements is true or false.
Cost centers tend to be found in the upper levels of a company's organization chart.______
Managers of investment centers are accountable for assets,liabilities,and earnings.______
Responsibility reports are prepared only for the top-level managers of a business because they are responsible for the business as a whole.______
Responsibility reports often show actual and budgeted revenues and expenses and the amounts of any variances.______
Responsibility accounting reports are arranged using the management by exception approach.______

Indicate Whether Each of the Following Statements Is True or False