A Cost Center Responsibility Report ________

question 39

Multiple Choice

A cost center responsibility report ________.

• A) includes depreciation expense
• B) typically focuses on the flexible budget variance
• C) is the same as a performance report
• D) shows all costs incurred by the department

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Definitions:

Finance Charges

Fees represented as the cost of credit to the borrower, which includes interests and other charges.

Installment Payment Plan

A financial arrangement that allows a buyer to pay for goods or services over a period of time in several smaller payments.

Bankruptcy

The state of being bankrupt, being legally declared unable to pay debts; a petition to a court by an individual who is stating that he or she cannot pay any debt incurred.

Collection Agency Transaction

A financial activity where a collection agency attempts to recover funds owed by an individual or business.