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The ________ is a derivative forward contract that was created in the 1990s. It has the same characteristics and documentation requirements as traditional forward contracts except that they are only settled in U.S. dollars and the foreign currency involved in the transaction is not delivered.
Responsibility Accounting Reports
Financial reports that measure the performance of organizational units or departments, emphasizing the accountability of managers for controllable costs.
Profit Centers
Divisions or segments within a company that are directly responsible for generating profits, evaluated based on their performance.
Net Income
The remaining profit after deducting all expenses, taxes, and costs from the total revenue.
Service Department Cost
Expenses associated with the functions that support the production or selling activities of a business, such as maintenance, cleaning, and security services.
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