Explain the three types of responsibility centers
Cost centers are organizational units with responsibility for cost management.
Profit centers have responsibility for both cost management and revenue generation.
Investment centers have responsibility for cost management, revenue generation, and also the investment and use of assets.
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A contract is a legally enforceable promise or set of promises.
Answer the following statement true (T) or false (F)
Answer the following statements true (T) or false (F)
Critical accounting research assumes a sharp separation between the researcher and his or her field of investigation.
Mandatory public reporting of financial information:
a. enhances the perceived fairness of the capital market. b. increases the total cost to society of obtaining the information. c. results in costs greater than benefits. d. requires companies to generate a lot of information that would not otherwise be produced by its accounting system.
A tax rate that increases as the tax base increases is an example of what kind of tax rate structure?
A. Recessive. B. Regressive. C. Proportional. D. Progressive.