Yes, that is the literal meaning of the word. However, when a government holds an agency "accountable", it is exerting influence over it. "Accountable" agencies

Yes, that is the literal meaning of the word. However, when a government holds an agency "accountable", it is exerting influence over it. "Accountable" agencies have their effectiveness swing wildly depending on the current governing party's whims. "Unaccountable" agencies, like the Federal Reserve and the United States Supreme Court, carry on doing what they do regardless of whatever nonsense Congress is doing this week.