Which of the Following Responsibility Centers Will Use a Segmented

question 94

Multiple Choice

Which of the following responsibility centers will use a segmented income statement as an evaluation tool?

• A)cost center
• B)revenue center
• C)profit center
• D)balanced center

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Definitions:

Crediting

The process of making an entry on the right side of an account in double-entry bookkeeping, indicating an increase in liabilities, equity, or revenue, or a decrease in an asset or expense.

Salaries Payable

A liability account representing amounts owed to employees for work performed and not yet paid.

Debit Postings

Entries made on the left side of an account, indicating an increase in assets or expenses or a decrease in liabilities, equity, or revenue.

Credit Postings

Entries made in the accounts to record increases in liabilities, revenues, or owner's equity and decreases in assets or expenses.