Which of the following are the benefits of responsibility accounting?
I. It facilitates the centralization of decision-making.
II. It provides a system of closer control.
III. It measures the performance of individuals in an objective manner.
IV. It develops a sense of cost-consciousness among managers and their subordinates.

A. I, II and III

B. II, III and IV

C. I, II and IV

D. I, III and IV

Answer: Option B