Question: _ _ _ _ _ _ _ _ _ _ _ _ _ are responsible for both controlling costs and generating revenues. Question content area

_____________ are responsible for both controlling costs and generating revenues. Question content area bottom Part 1 A. Profit centers B. Convertible centers C. Revenue center D. Cost centers
ChatGPT said:
Correct Answer: A. Profit centers
Explanation:
Profit centers are responsible for both:
Generating revenues
Controlling costs
This means they are evaluated based on their ability to produce profit.
Incorrect Options:
B. Convertible centers Not a valid type of responsibility center
C. Revenue center Only responsible for generating revenue
D. Cost centers Only responsible for controlling costs
Final Answer: A. Profit centers

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

4. Lincoln Corporation used the following data to evaluate their current operating system. The company sells items for $19 each and used a budgeted selling price of $19 per unit. Actual Budgeted...

Q:

Lincoln Corporation used the following data to evaluate their current operating system. The company sells items for $12 each and used a budgeted selling price of $12 per unit. Actual Budgeted Units...

Q:

content area top Part 1 Companies in which segment managers make planning, directing and controlling decisions are ________ companies. Question content area bottom Part 1 A. decentralized B....

Q:

content area top Part 1 Aside from direct costs of bankruptcy, a firm may also incur other indirect costs such as ________. Question content area bottom Part 1 A. loss of customers and loss of...

Q:

Question content area top Part 1 Prime costs consist of Question content area bottom Part 1 A . direct materials and manufacturing overhead. B . direct labor and manufacturing overhead. C . direct...

Q:

Question content area top Part 1 Flotation costs and the cost of debt Currently , Warren Industries can sell 1 0 dash year , $ 1 comma 0 0 0 - par - value bonds paying annual interest at a 1 3 %...

Q:

The value of a sports franchise is directly related to the amount of revenue that a franchise can generate. The accompanying data table gives the value and the annual revenue for 15 major sport...

Q:

Companies in which owners or top executives make all of the planning, directing and controlling decisions are ________ companies. Question content area bottom Part 1 A. formalized B. decentralized C....

Q:

Companies in which segment managers make planning, directing and controlling decisions are ________ companies. Question content area bottom Part 1 A. decentralized B. segmented C. formalized D....

Q:

Cost of debt using both methods (YTM and the approximation formula)Currently, Warren Industries can sell 15-year, $1,000-par-value bonds paying annual interest at a 12% coupon rate. As a result of...

Q:

A 400 mm diameter shaft is rotating at 200 rpm in a bearing of length 120 mm. If the thickness of the oil film is 1.5 mm and the dynamic viscosity of the oil is 0.7 N s/m , determine; (i) Torque...

Q:

1. Discuss Geert Hofstedes Cultural Dimensions, the most-used and best-known framework for cultural differences. 2. Give one example of a multinational company that has been subject to a global...

Q:

q , is the financing obtained from investors who believe the borrower will experience rapid growth and who receive equity in return for their investment. A ) Mortgage loan B ) Internal funding C )...

Q:

A particle is moving in three dimensions and its position vector is given by; r(t) = (4, 4t + 2, 3t)i + (4, 5t - 2, 3)2 + (3, 3t + 3, 1t)k where r is in meters and t is in seconds. Determine the...