1. The review of budget reports by top management directed entirely or primarily to differences between actual results and planned objectives. 2. A part of management accounting that involves accumulating and reporting revenues and costs on the basis of the individual manager who has the authority to make the day-to-day decisions about the items. 3. The preparation of reports for each level of responsibility shown in the company's organization chart. 4. A projection of budget data at one level of activity. 5. Costs that a manager has the authority to adjust within a given period of time. 6. The use of budgets to control operations. 7. A projection of budget data for various levels of activity. 8. A responsibility center that incurs costs, generates revenues, and has control over the investment funds available for use. 9. Costs that relate specifically to a responsibility center and are incurred for the sole benefit of the center. 10. A responsibility center that incurs costs and also generates revenues. 11. Costs which are incurred for the benefit of more than one profit center. 12. A measure of the profitability of an investment center computed by dividing controllable margin (in doliars) by average operating assets. eTextbook and Media Attempts: 0 of 4 used