ECONOMICS

Detailed explanation-1: -Responsibility accounting is a kind of management accounting that is accountable for all the management, budgeting, and internal accounting of a company. The primary objective of this accounting is to support all the Planning, costing, and responsibility centres of a company.

Detailed explanation-2: -Accounting centre is not a part of responsibility accounting.

Detailed explanation-3: -The components of responsibility accounting include inputs and outputs, identification of responsibility center, target, and actual information, responsibility between organization structure and responsibility center, etc.