Questions 1 2 3 Indicate Your answer TRUE or FALSE General Managerial Accounting Questions Cost of sales is generally the responsibility of, and controllable by, the department head concerned. The balance sheet shows the operating results of a business for a period of time. Management fees are paid by all hotels The income statement shows the operating results of a business for a period of time, Gross operating profit is the benchmark of which the performance of the management company or the GM is evaluated. 5