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Instructions: Identify the following. Be as specific as possible, and include names, dates, and relevant facts as appropriate. Be sure to explain the significance of the person or term.
Second Party System
Controllable Expenses
Costs that can be influenced by the decisions of a manager.
Profit Center Manager
A person responsible for overseeing a division or department within a company that is considered a separate entity for the purpose of tracking its revenues and expenses.
Operating Income
Income generated from a company's primary business activities, excluding revenue and expenses from peripheral activities, interest, and taxes.
Investment Center
A business unit within an organization that is responsible for its own revenue, expenses, and investments, allowing it to be evaluated on its profit contributions and investment returns.
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