Responsibility Accounting Defines an Operating Center That Is Responsible for Revenue

question 156

Multiple Choice

Responsibility accounting defines an operating center that is responsible for revenue and costs as a(n) : (CMA adapted)

• A) profit center.
• B) revenue center.
• C) division.
• D) operating unit.

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Definitions:

World Price

The international market price at which goods, services, or commodities are traded across countries.

Foreign Producers

Companies or individuals located outside a country's borders that produce goods or services for sale within that country.

Importing Country

A country that buys goods and services from abroad for domestic consumption or use.

Quota Rights

Entitlements allocated by governments or international bodies that allow entities to import or export a specified quantity of goods.