The Three Common Types of Responsibility Centers Are Referred to as Cost

question 193

True/False

The three common types of responsibility centers are referred to as cost centers, profit centers, and investment centers.

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Definitions:

Norms

Are generally accepted ways of doing things.

Codes of Behaviour

Established rules or standards governing the actions or conduct of individuals within a group or society.

Internal Social Control

Regulates people through socialization and shapes people’s minds so they come to regard deviant actions as undesirable.

Importance of Learning

The significance attached to acquiring knowledge and skills, emphasizing its role in personal development, career advancement, and societal progress.