A Responsibility Center in Which the Authority Over and Responsibility

question 100

True/False

A responsibility center in which the authority over and responsibility for costs and revenues is vested in the department manager is termed a profit center.

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Definitions:

Financial Rewards

Monetary benefits given to employees or teams for achieving specific goals or exceptional performance, including bonuses, raises, and profit-sharing.

Sales Representatives

Individuals who represent a company's products or services, focusing on selling and maintaining relationships with existing customers while seeking new ones.

Sales Contests

Competitive events organized within a sales team to motivate employees by rewarding top performers with prizes.

Sales Training

The process of providing a salesforce with the necessary skills, knowledge, and techniques to effectively sell products and enhance customer interactions.