The budgetary unit of an organization which is led by a manager who has both the authority over and responsibility for the unit's performance is known as a:
A) control center
B) budgetary area
C) responsibility center
D) managerial department
C
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The sample size decreases as the risk of over-reliance decreases
a. True b. False Indicate whether the statement is true or false
_______________ is a sustained increase in prices.
Fill in the blank(s) with the appropriate word(s).
If two or more products are obtained from the same production process, the joint cost should be allocated in a manner
a. minimize variations in unit production cost. b. maximize total earnings. c. that assigns the costs to products based on either the weight or the sales price of the item. d. that minimizes the number of estimations that must be made.
An accountant is subject to potential civil liability arising from the professional services he provides to his clients and third parties
a. True b. False Indicate whether the statement is true or false