Responsibility accounting. It is a system of control where responsibility is assigned for the control of costs. Persons are made responsible for the control of costs. Proper authority given to persons so that they are able to keep up their performance.
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It is a system of control where responsibility is assigned for the control of costs.
“Responsibility accounting is the name given to that aspect of the managerial process dealing with the reporting of information to facilitate control of the operations and evaluation of performance.”