A segment of a master budget relating to that portion of a business under the control of a particular manager is termed a:
A)Performance report.
B)Production report.
C)Responsibility budget.
D)Cash budget.

Question

Quizplus · Accepted Answer

A responsibility budget is a portion of a master budget that outlines the financial plan for a particular segment of the business that is under the control of a specific manager or department. It allows for a more detailed and focused analysis of the performance of that area and helps to facilitate better decision-making and resource allocation. Performance reports, production reports, and cash budgets are all components of a master budget, but they do not necessarily relate specifically to a particular manager or department.

A Segment of a Master Budget Relating to That Portion