RESPONSIBILITY ACCOUNTING Definition

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RESPONSIBILITY ACCOUNTING is the collection, summarization, and reporting of financial information about various decision centers throughout an organization; can also be called profitability accounting or activity accounting. It tracks costs, revenues, or profits to the individual managers who are responsible for making the decisions about costs, revenues, or profits and taking action about them.

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NET TANGIBLE ASSET VALUE is the value of the business enterprise's tangible assets (excluding excess assets and non-operating assets) minus the value of its liabilities.

PURCHASES LEDGER see LEDGER.

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