For higher levels of management, responsibility accounting reports:
A) are more detailed than for lower levels of management
B) are more summarized than for lower levels of management
C) contain about the same level of detail as reports for lower levels of management
D) are rarely provided or reviewed
B
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If a company has very low operating leverage (i.e. a low proportion of fixed costs in the cost structure) and no changes are expected in operations
a. percentage change income statement percentages can serve as the basis for projecting operating expenses. b. using common-size income statement percentages will overstate future projected operating expenses. c. using common-size income statement percentages will understate future projected operating expenses. d. using common-size income statement percentages can serve as a reasonable basis for projecting future operating expenses.
According to generally accepted accounting principles, the proper accounting treatment for the cost of a trademark that management feels will retain its value indefinitely is to
a. write the cost off immediately. b. amortize the cost over a reasonable life. c. amortize the cost over five years. d. carry the cost as an asset indefinitely.
How do consumers benefit from price bundling? Give an example of price bundling
What will be an ideal response?
A partnership began its first year of operations with the following capital balances: Young, Capital:$143,000Eaton, Capital:$104,000Thurman, Capital:$143,000??The Articles of Partnership stipulated that profits and losses be assigned in the following manner:? Young was to be awarded an annual salary of $26,000 and $13,000 salary was to be awarded to Thurman. ? Each partner was to be attributed with interest equal to 10% of the capital balance as of the first day of the year. ? The remainder was to be assigned on a 5:2:3 basis to Young, Eaton, and Thurman, respectively. ? Each partner withdrew $13,000 per year.?Assume that the net loss for the first year of operations was $26,000 with net income of $52,000 in the second year.?What was Thurman's total share of net
income for the second year? A. $17,290 income. B. $19,760 income. C. $ 4,160 income. D. $17,160 income. E. $28,080 income.