8 Consider the following three statements: 1. A profit centre has control over both cost and...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
8 Consider the following three statements: 1. A profit centre has control over both cost and revenue. II. An investment centre has control over invested funds, but not over costs and revenue. III. A cost centre has no control over sales. Which statement(s) is/are correct? Multiple Choice I only. Il only. I and III only. Saved I and II only. 8 Consider the following three statements: 1. A profit centre has control over both cost and revenue. II. An investment centre has control over invested funds, but not over costs and revenue. III. A cost centre has no control over sales. Which statement(s) is/are correct? Multiple Choice I only. Il only. I and III only. Saved I and II only.
Expert Answer:
Answer rating: 100% (QA)
Cost or expense centres are responsibility centres where the manager has control ove... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
Students also viewed these accounting questions
-
Consider the following three independent scenarios: 1. For each of the three scenarios, answer the following questions: a. Is the asset impaired? b. At what amount (net of accumulated depreciation)...
-
Consider the following three data sets. a. Assuming that each of these data sets is sample data, compute the standard deviations. (Round your final answers to two decimal places.) b. Assuming that...
-
Consider the following three countries that produce GDP this way: Y = 5K Ilia: K = 100 machines Caplania: K = 10,000 machines Hansonia: K = 1,000,000 machines What will GDP (Y) be in these three...
-
Smart housing Inc. is negotiating a deal to build a house. The owner wants to start in early spring when the weather begins to moderate and build through the summer into the fall. The completion time...
-
Analytical procedures are generally used to produce evidence from a. Confirmations mailed directly to the auditors by client customers. b. Physical observation of inventories. c. Relationships among...
-
Jurvin Enterprises recorded the following transactions for the just completed month. The company had no beginning inventories. a. $94,000 in raw materials were purchased for cash. b. $89,000 in raw...
-
What are the different types of schemes associated with complex frauds?
-
Climate-Control, Inc., manufactures a variety of heating and air-conditioning units. The company is currently manufacturing all of its own component parts. An outside supplier has offered to sell a...
-
Solve problems involving parallelograms, trapezoids and kites. Write the correct answer in the answer sheet. 1. A cross section of a water trough is in the shape of a trapezoid with bases measuring...
-
I need help on this read from bottom to top. Image transcription text 7"} The second ?nancial statement to prepare is the statement of retained earnings. To determine the ending balance of...
-
(Note: These are the kind of decisions exhausted, terrified and sleep-deprived healthcare workers in Italy fighting COVID-19 have to make, with little or no training in ethical decision-making....
-
Sexton Corporation has projected the following sales for the coming year. Sales 01 $720 Q2 $ 840 Q3 $ 960 04 $ 930 Sales in the year following this one are projected to be 10 percent greater in each...
-
Whole Pine Inc. s average collection period ( ACP ) is 6 0 days. The company recently generated $ 2 1 5 , 0 0 0 from sales of partial pine parts to part - time pine enthusiasts. What is the company s...
-
what ways does the intersection of art and technology catalyze socio-cultural transformations, reshaping modes of artistic production, dissemination, and reception, and redefining the boundaries...
-
Discuss the correlation between principles and natural law. Note: Explain the question with respect of the philosophy of law, you can use online sources or other references to support your...
-
What is the proper role of the Prosecutor in the criminal justice system? What are some problems that prosecutors face in properly and ethically performing their function? What steps can be taken to...
-
You have just had your bid to purchase a new home accepted. The price of the home is $500,000. You have agreed to put down 25% of the purchase price. How much is your mortgage in $?
-
I frequently use NY Times and CNN and am aware of Fox News but I never use it. I visit these sites, NY Times and CNN, a few times a week whenever I have to research something or see something on...
-
How are qualified dividends taxed in 2012? Please give the two rates of tax which apply to qualified dividends, and specify when each of these rates applies._________________________...
-
Frank, age 35, and Joyce, age 34, are married and file a joint income tax return for 2012. Their salaries for the year total $83,000 and they have taxable interest income of $4,000. They have no...
-
Sherry Hopson owns a retail family clothing store. Her store is located at 4321 Circle Drive, Houston, TX 77001. Her employer identification number is 95- 1234321 and her Social Security number is...
-
Which of Parks statements regarding the asset allocation approaches is correct? A. Only Statement 3 B. Only Statement 4 C. Both Statement 3 and Statement 4 Kevin Kroll is the chair of the investment...
-
The suitability concern discussed by Kroll and Park most likely deals with: A. governance. B. transparency. C. investment horizon. Kevin Kroll is the chair of the investment committee responsible for...
-
Based on the forecasted environment, liquidity planning should take into account that general partners may: A. call capital at a slower pace. B. make distributions at a faster pace. C. exercise an...
Study smarter with the SolutionInn App