Question 15 Indicate whether the following statements are true or false 1. Under responsibility accounting, a manager's performance is evaluated based on matters that are directly under that manager's control 2. Decentralization means that the control of operations is given to only top managers throughout the organization 3. Under responsibility accounting, segment reports are prepared only annually to evaluate a manager's performance. 4. One of the differences between responsibility accounting and budgeting is the distinction made between controllable and noncontrollable items 5. Responsibility accounting applies to both profit and not-for-profit entities 6. There are three basic types of responsibility centres: cost centres, profit centres, and investment centres 7. A cost centre incurs both costs and revenues 8. A profit centre generates revenues only but does not incur costs