Cost Center

question 117

Multiple Choice

Cost center

• A)A department or unit that incurs costs without directly generating revenues.
• B)A center in which a manager is responsible for using the center's assets to generate income for the center.
• C)Costs that are incurred for the joint benefit of more than one department and cannot be readily traced to only one department.
• D)Costs readily traced to a specific department because they are incurred for the sole benefit of that department.
• E)Costs incurred to produce two or more products at the same time.
• F)Costs that a manager can strongly influence or control.
• G)A department that incurs costs and generates revenues.
• H)Assigns managers the responsibility for costs and expenses under their control.

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Definitions:

Social Processes

The patterns of interaction between individuals and groups that shape societal norms and structures.

Economic Contributions

Economic contributions refer to the input of individuals, groups, or sectors to the economy, including labor, capital, and resources, influencing overall economic growth and productivity.

Self-identity

An individual's conscious recognition of their own character, traits, and personal identity, influenced by their experiences, values, and social interactions.

Interdependence

A relationship between individuals or groups that rely on each other to achieve mutual goals or meet needs, highlighting the interconnectedness and reliance within social or ecological systems.