7. Why do managers use a standard cost system to control business activities? and a) Setting standards required different divisions and functions. among b) Using a standard cost system helps managers: 8. What is the difference between cash basis accounting and accrual basis accounting? a) In your own words, what is a centralized company? b) In your own words, what is a decentralized company? c) List two advantages of decentralization: i) ii) d) List two disadvantages of decentralization: i) ii) e) A cost center manager is responsible for f) A revenue center manager is responsible for g) A profit center manager is responsible for h) h) An investment center manager is responsible for