State whether the following statements are true or false:
- A cost manager is concerned not only with cost management but also with revenue creation.
- Responsibility Accounting is generally classified into four classes.
- Responsibility Accounting is used as a control device.
- Whether a cost is controllable or non-controllable is directly related to whether or not the cost is fixed or variable.
- Responsibility Accounting is also known as profitability accounting.
- All controllable costs are direct costs.
- An Investment Centre manager is concerned with investment decisions of the company.
- Profit Centre is established where the responsible manager can influence both cost as well as revenue.
- Return on investment is a function of the income earned and the assets used in order to earn that income.
- Indirect costs are common to more than one segment of the organization.
- The performance report for a Responsibility Centre should include those costs which are of both controllable and non-controllable nature.