Examlex
_________ refers to the level of responsibility and decision-making authority which is transferred to each specific managerial position.
Departmental Income Statements
Financial statements that show the operating results of each department within a company, highlighting revenues and expenses.
Profit Center
A branch or division of a business that is responsible for generating its own revenue and profit.
Cost Center
A department within an organization that does not directly add to profit but still incurs costs.
Indirect Expenses
Expenses that cannot be traced directly to one department.
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