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Question 1: Use innovative research and development and develop effective promotional campaigns to increase customer loyalty and charge higher prices. Which of the following is true of responsibility accounting?
Group of answer choices
Option 1: It explicitly incorporates continuous improvement and changes due to learning curve.
Option 2: It examines how a result will change if the original plan is not achieved
Option 3: it is a system that measures the plans, budgets, actions, and actual results of a responsibility center
Option 4: It is an arrangement of lines of responsibility and authority within a responsibility center.
Illustrate how the information above should be shown on the balance sheet of Patriot Company
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