What is responsibility accounting? Explain its advantages and limitation?
Answers
Answered by
3
Responsibility Accounting is a system of control where responsibility is assigned for the control of costs. The persons are made responsible for the control of costs. Proper authority is given to the persons so that they are able to keep up their performance.
Answered by
11
The advantages of responsibility accounting are:
1. It establishes a sound mechanism for control. ADVERTISEMENTS: 2. It forces the management to consider the organisational structure and examines who is responsible for what and fix the delegation of power.
Similar questions