A Profit Center Responsibility Report ________

question 134

Multiple Choice

A profit center responsibility report ________.

• A) should not include costs for which the profit center manager is not accountable
• B) does not include revenues since that information only appears on the revenue center responsibility report
• C) includes traceable fixed expenses
• D) is the same as a performance report

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Definitions:

Transaction Records

Documentation of business activities and transactions, essential for financial tracking, analysis, and auditing.

Revenue Recognition Principle

An accounting principle that determines the specific conditions under which revenue is recognized or accounted for.

Products Manufactured

Refers to the finished goods produced by a company during a specific period, ready for sale or distribution.

Service Revenue

Income earned from the provision of services as opposed to the sale of physical goods.