In a Cost Center, the Manager Has Responsibility and Authority

question 50

Multiple Choice

In a cost center, the manager has responsibility and authority for making decisions that affect

• A) revenues
• B) investments in assets
• C) both costs and revenues
• D) costs

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Definitions:

Finance Charge

The total cost of borrowing, including interest and other fees.

Previous Balance

The amount of money that was owed at the end of the previous billing period before any new charges were added.

Cycle Closing

The process of completing a cycle or period, especially in financial contexts, marking the end of an accounting or billing period.

Finance Charge

The total cost of borrowing, including interest along with other charges like service fees or transaction fees.