In a Profit Center, the Manager Has Responsibility and Authority

question 185

Multiple Choice

In a profit center, the manager has responsibility and authority for making decisions that affect

• A) long-term liabilities
• B) assets
• C) investments
• D) costs

Recognize the primary missions and functions of key federal departments such as the State Department, the Treasury, and the Federal Reserve System.

Describe the concept and impact of fiscal and monetary policies on national economy.

Analyze the effects of national security leaks and policies on privacy and international relations.

Explain the structure and function of the federal bureaucracy, including differences between departments, agencies, and bureaus.

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Definitions:

Service Department Charges

Costs allocated to the various service departments within an organization, such as IT or HR, which support the production departments.

Income from Operations

The earnings of a business from its core operations, excluding revenue and expenses from non-operational activities like investment gains or losses.

Indirect Expense

Costs not directly linked to the production of goods or services, such as administrative expenses.

Insurance on Merchandise Inventory

A protection coverage for businesses against loss or damage to their stock of goods.