A Responsibility Center in Which the Department Manager Is Responsible

question 121

Multiple Choice

A responsibility center in which the department manager is responsible for costs, revenues, and assets for a department is called a (n)

• A) cost center
• B) profit center
• C) operating center
• D) investment center

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Definitions:

Competitively Organized Industry

An industry characterized by many firms competing against each other in a market to sell their products.

Network Effects

The phenomenon where a product or service becomes more valuable as more people use it.

Social Site

A website or platform where people can share their personal lives, opinions, or participate in networking activities.

Scarce Factor Of Production

An input required for the production process that is in limited supply, potentially constraining output.