A Unit of a Business That Generates Revenues and Incurs

question 97

Multiple Choice

A unit of a business that generates revenues and incurs costs is called a:

• A) Expense center.
• B) Responsibility center.
• C) Profit center.
• D) Performance center.
• E) Cost center.

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Definitions:

Bargaining Impasses

Occurs when the parties involved in negotiation, particularly in labor negotiations, are unable to reach an agreement despite prolonged discussions.

Dispute Resolution

The process of resolving a dispute or conflict between parties through negotiation, mediation, arbitration, or legal actions.

Third Party Dispute

A conflict involving an external entity that is not a direct party to the initial issue or disagreement, often requiring resolution through mediation or arbitration.

Nonbinding Recommendations

Suggestions offered by a mediator or arbitrator that do not have to be legally followed by the parties in a dispute.