Answer the following statements true (T) or false (F)
1. A department can never be considered to be a profit center.
2. A cost center does not directly generate revenues.
3. A selling department is usually evaluated as a profit center.
4. Product lines are often evaluated as profit centers.
5. A profit center generates revenue, incurs costs, and has the authority to make significant
investing decisions.
1. FALSE
2. TRUE
3. TRUE
4. TRUE
5. FALSE
You might also like to view...
Which statement is true?
A) In the Income Statement columns of a worksheet, if there is net income, it must be added to the credit column to make the two columns balance. B) In the Retained Earnings columns of a worksheet, if there is a loss, it will be entered in the credit column to make the two columns balance. C) In the Income Statement columns of a worksheet, if there is a net loss, it must be added to the credit column to make the two columns balance. D) In the Retained Earnings columns of a worksheet, if there is net income, it will be entered in the debit column to make the two columns balance.
An auditor is reviewing sales cutoff as of March 31, 2019. All sales are shipped FOB destination and the company records sales three days after shipment. The auditor notes the following transactions:DateShipped MonthRecorded Selling Price(000's) Cost(000's)March 28 March $192 $200 March 29 March 44 40 March 30 April 77 81 April 2 March 208 220 April 5 April 92 84 If the entity records the required adjustments, the net effect on income (in thousands of dollars) for the period ended March 31, 2019 is
A. a decrease of 12. B. a decrease of 8. C. an increase of 12. D. an increase of 8.
A(n) ________ limits the shopping center management from leasing to certain kinds of tenants.
A. exclusive-use clause B. cotenancy clause C. fixed-rate clause D. common area maintenance clause E. prohibited-use clause
________ consists of characteristics that make a brand unique
A) Brand valuation B) Brand equity C) Brand personality D) Licensing E) Intellectual property