In a Cost Center,the Manager

question 115

Multiple Choice

In a cost center,the manager:

• A)has the responsibility for controlling costs,but not directly generating revenue.
• B)is not responsible for controlling costs,but is responsible for generating revenue.
• C)is responsible for controlling costs and generating revenue.
• D)None of these answers are correct.

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Definitions:

Account Receivable

Account receivable is the money owed to a business by its customers for goods or services delivered but not yet paid for.

Bad Debts Expense

The cost reported by a company due to the unrecoverable credit it extended to its customers, representing expected losses from unpaid financial obligations.

Notes Receivable Account

An account on the balance sheet representing claims for payments from customers or other parties due within a year or more.