A Responsibility Center in Which the Department Manager Has Responsibility

question 92

True/False

A responsibility center in which the department manager has responsibility for and authority over costs in the department is termed a cost center.

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Definitions:

Organizational

Pertaining to the structure and functioning of an organization, including its systems, processes, and dynamics.

Management

The process of planning, organizing, leading, and controlling resources to achieve organizational goals efficiently and effectively.

Human

Referring to a member of the species Homo sapiens, characterized by the capacity for language, rationality, and complex social structures.

Market

A market is a place or system where buyers and sellers interact to exchange goods, services, or information, often determined by supply and demand.