A. Responsibility accounting is an accounting system that measures accounting results of each responsibility center separately; it also measures consolidated results.

B. Benchmarking is the process of a company using the standards set by other companies as a target or model for its own operations. This is also called best practices. It is the process of continuously trying to emulate (imitate) the best companies in the world.

C. The primary area of concentration in MBO is goal congruence; it is behavioral, communication-oriented, and a responsibility approach system.

D. Management by exception means that management focuses on areas where there are problems, as identified by the fact that there is a variance from the standard. In order for a company to use management by exception, standards must be set and there must be a system whereby variances are identified and reported to the appropriate level of the company.