List the Four Types of Responsibility Centers

question 91

Essay

List the four types of responsibility centers.For each center,state the responsibility of the manager.
$\begin{array}{|c|c|}\hline\begin{array}{c}\text { Type of } \\\text { responsibility center }\end{array} & \text { Responsibility of the manager } \\\hline & \\\hline & \\\hline & \\\hline & \\\hline\end{array}$

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Definitions:

Net Income

The total profit of a company after accounting for all expenses and taxes; also known as net earnings or net profit.

Cash Receipts

The monetary amounts received by a company during a specific period for goods sold, services provided, or any other business activities.

Bank Loan

A sum of money borrowed from a bank that must be repaid with interest over a predetermined period.

Net Income

The total profit of a company after all expenses and taxes have been subtracted from revenue.