A segment of a business responsible for costs and revenue as well as having the ability to
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Question:
Multiple Choice
a cost centre.
an investment centre.
a profit centre.
residual income.
An individual unit within an organization whose manager has the responsibility to carry out its activities is known as a(n):
Multiple Choice
profit centre
segment
responsibility centre
investment centre
A profit centre manager is responsible for generating revenue, but is not responsible for controlling costs.
True OR False
A segment of a business responsible for both revenues and costs would be referred to as:
Multiple Choice
a cost centre.
an investment centre.
a profit centre.
residual income.
Related Book For
Intermediate Accounting Reporting and Analysis
ISBN: 978-1285453828
2nd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
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