Which of the Following Statements Is/are Correct

question 87

Multiple Choice

Which of the following statements is/are correct?
I. A profit center has control over both costs and revenues.
II. An investment center has control over invested funds, but not over costs and revenues.
III. A cost center has no control over sales.

• A) Only I.
• B) Only II.
• C) Only I and III.
• D) Only I and II.

Understand the purpose and impact of master's degree programs for nurses.

Acknowledge the significance of continuing education and its different forms in nursing practice.

Recognize the role and influence of professional associations and accreditation bodies on nursing education and practice.

Understand the fundamental components of a computer system and their functions.

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Definitions:

Break-even Sales

The amount of revenue required to cover total costs, both fixed and variable, at which point a business neither makes a profit nor suffers a loss.

Variable Cost

Overheads that move in sync with the volume of manufacturing or sales, covering labor and material costs.

Fixed Costs

Expenses that do not change with the level of production or sales in the short term, such as rent, salaries, and insurance.

Break-even Point

The production level or sales volume at which total costs equal total revenue, resulting in no profit or loss.