Strategic Cost Accounting

What is the process where the concentration of decision making is in one or on a few hands?

Centralization

In a centralization, who approves all the important decisions and actions of the lower level?

The president or top management.

What is the systematic delegation of authority at all levels of management and in all of the organization?

Decentralization

TRUE OR FALSE:

In a decentralization concern, authority is retained by the top management for taking major decisions and framing policies concerning the whole organization. The rest of the authority may be delegated to the middle level and lower level of management.

True