orporation is considering changes to its responsibility accounting system. Which of the following statements$$ is$/$are correct for a responsibility accounting$$ system?

I.

In a cost$$ center, managers are responsible for controlling costs but not revenue.

II$.$

The idea behind responsibility accounting is that a manager should be held responsible for those items that the manager can control to a significant extent.

III.

To be$$ effective, a good responsibility accounting system must help managers to plan and to control.

IV$.$

Costs that are allocated to a responsibility center are normally controllable by the responsibility center manager.

Question content area bottom

Part $1$

$1.$

II and III only are correct

$2.$

I and II only are correct

$3.$

$$I$,$ II and IV are correct

$4.$

$$I$,$ II$,$ and III are correc