Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Select the term from the list of terms that best matches the descriptions provided. Descriptions 1. Practice of holding a manager responsible for revenue

image text in transcribed

Select the term from the list of terms that best matches the descriptions provided. Descriptions 1. Practice of holding a manager responsible for revenue and expense items over which he or she exercises predominant control 2. Type of responsibility center where the manager influences only costs and is held accountable for a specific output at a given level of cost 3. Measure of the ability of a firm or segment within a firm to utilize available resources effectively to generate a positive return for shareholders 4. Transfer price based on the external market price less any cost savings 5. Situation that motivates a manager to act in his or her own best interest even though the corporation as a whole may suffer 6. The point in an organization where the control over revenue or expense items is located 7. Transfer price that is based on the historical or standard cost incurred by the supplying segment 8. Type of responsibility center where the manager can influence revenues, expenses, and capital invested in his or her center to attain the best performance possible 9. Type of responsibility center where the manager can influence both revenues and expenses for his or her center 10. Approach that evaluates a manager on his or her ability to maximize the dollar value of earnings above some targeted level of earnings 11. Reports comparing budgeted and actual controllable costs for each center within a firm 12. When variances from the budget are emphasized in reporting procedures so that management concentrates its attention on those variances from the budget 13. Transfer price that is established by agreement of both the selling and buying segments of the firm 14. Practice of delegating authority and responsibility for the operation of business segments Term

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting Tools for business decision making

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

6th Edition

978-0470477144, 1118096894, 9781118214657, 470477148, 111821465X, 978-1118096895

More Books

Students also viewed these Accounting questions

Question

How do childhood experiences affect self-esteem?

Answered: 1 week ago

Question

Explain why people categorize.

Answered: 1 week ago

Question

Describe the minimal group paradigm.

Answered: 1 week ago