Responsibility Accounting for a Profit Center Focuses on Reporting

question 128

Multiple Choice

Responsibility accounting for a profit center focuses on reporting:

• A) the controllable revenues only.
• B) controllable revenues, controllable expenses, and controllable profits.
• C) controllable revenues, controllable expenses, controllable profits, and investment in assets controlled by the manager of the center.
• D) controllable expenses, and controllable profits, but not controllable revenues.

Evaluate the effectiveness of real estate as a hedge against inflation.

Recognize the importance and challenges of diversification in real estate investment.

Understand legal structures and liability issues in real estate investment partnerships.

Acknowledge the role of collectibles and precious metals in investment portfolios.

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Definitions:

Monetary Payments

Transfers of money from one party to another as a form of compensation or settlement.

Damages

Financial compensation ordered by a court to a plaintiff for losses suffered due to the defendant's unlawful act or negligence.

Breach Of Contract

Not meeting any condition of a contract, be it in written or oral form, without an authentic legal reason.

Creditor Beneficiary

A third party who benefits from a contract in which the promisor agrees to pay the promisee’s debt.