1. What is the definition of Responsibility Accounting?
  2. What do you mean by the concept of responsibility accounting of an organization?
  3. Mention the pre-requisites of efficient responsibility accounting
  4. Describe the objectives of Responsibility Accounting?
  5. Specify the advantages of responsibility accounting.
  6. What are the principles of Responsibility Accounting?
  7. What do you mean by responsibility centres of an organization?
  8. What are the types of these responsibility centres?
  9. Describe the roles of managers in these responsibility centres.
  10. What is a cost or expense centre?
  11. What do you mean by the revenue centre?
  12. Describe the role of profit centre.
  13. What is the investment centre of an organization?
  14. What do you mean by transfer price?

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