Match the Appropriate Definition with the Following Terms

question 110

Short Answer

Match the appropriate definition with the following terms:
(a) A department or unit that incurs costs without directly generating revenues.
(b) A department or unit that generates revenues and incurs costs, in which the manager is also responsible for investments made in operating assets.
(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 or purchase two or more products at the same time.
(f) Costs for which a manager has the power to determine or at least significantly affect.
(g) A department that generates revenues and incurs costs.
________ (1) Direct expenses
________ (2) Profit center
________ (3) Controllable costs
________ (4) Indirect expenses
________ (5) Cost center
________ (6) Joint cost
(7) Investment center

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Definitions:

Risk-Free Retirement

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Financial Crises

A situation where the value of financial institutions or assets drops significantly, often causing widespread economic disruption and potentially leading to a recession.

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Equity investments that represent ownership shares in a corporation, giving holders a claim on part of the company's assets and earnings.

Balanced Scorecards

A strategic planning and management system used for aligning business activities to the vision and strategy of the organization, improving internal and external communications, and monitoring organizational performance against strategic goals.