Contrast a Credit Card with a Debit Card

question 60

Essay

Contrast a credit card with a debit card.

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Definitions:

Diversified

A risk management strategy that involves spreading investments across various financial instruments, industries, or other categories to reduce risk.

Responsibility Centers

These are parts or segments of a business for which individual managers are responsible, usually in terms of costs, revenues, or investment.

Cost Center

A business unit or department within an organization that does not directly generate revenue but incurs costs, used for budgeting and cost control.

Profit Center

A segment or division within a company that is responsible for generating its own revenues and profits, and is evaluated based on its profitability.