A Responsibility Center in Which the Authority and Responsibility for Costs

question 38

True/False

A responsibility center in which the authority and responsibility for costs and revenues is vested on the department manager is termed an investment center.

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Definitions:

James II

King of England, Scotland (as James VII), and Ireland from 1685 until he was deposed in 1688, known for his attempts to re-establish Catholicism in Britain.

William and Mary

The monarchs of England, Scotland, and Ireland from 1689 to 1694, who came to power during the Glorious Revolution and jointly ruled as king and queen.

Amsterdam

The capital city of the Netherlands, known for its historic canals, art museums, and as a major hub of finance and culture.

Catholic Reformation

A period of Catholic revival and reformation in the 16th century, partly in response to the Protestant Reformation, aiming to reform the Church from within.