A Type of Responsibility Center Which Is Typically Established Whenever

question 73

Multiple Choice

A type of responsibility center which is typically established whenever an organizational unit has control over both its resources and its products or services is a(n)

• A) investment center.
• B) revenue center.
• C) expense center.
• D) profit center.
• E) standard cost center.

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Definitions:

Accounting

The systematic process of recording, analyzing, summarizing, and reporting financial transactions of a business or individual.

Financial Information

Refers to data encompassing a company's financial status, including earnings, expenses, debts, and investments.

Natural Progression

refers to a gradual and continuous development or change in conditions, capacities, or phenomena following a sequence or a specific inherent course.

Business Begins

This term implies the initial stage or inception of a commercial enterprise or venture.