In a Cost Center, the Manager Has Responsibility and Authority

question 50

Multiple Choice

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

• A) revenues
• B) investments in assets
• C) both costs and revenues
• D) costs

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Definitions:

Benefits

Benefits describe the positive outcomes or advantages that a product or service provides to a consumer, contributing to the satisfaction of their needs or wants.

Generic Competition

The competition that occurs when generic products or services compete with branded ones, typically offering similar benefits at lower costs.

Basic Need

Essential requirements for human survival and well-being, such as food, water, shelter, and clothing.

Total Budget

Total Budget refers to the combined allocation of financial resources covering all aspects and departments of an organization within a specific timeframe.