The Accounting Department of a Large Corporation Would Be Classified

question 132

Multiple Choice

The accounting department of a large corporation would be classified as a

• A)Cost center.
• B)Profit center.
• C)Investment center.
• D)Segment.

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Definitions:

Bilateral Contract

A type of contract involving two parties where each side promises to perform an act in exchange for the other party's act.

Bilateral Contract

An agreement where each of the two parties makes a promise or set of promises to the other.

Unilateral Contract

A contract in which one party makes a promise in exchange for an act by another party, who accepts the offer by performing the requested act.

Intellectual Property

A category of property that includes intangible creations of the human intellect, such as patents, copyrights, trademarks, and trade secrets.