A Profit Center Responsibility Report ________

question 134

Multiple Choice

A profit center responsibility report ________.

• A) should not include costs for which the profit center manager is not accountable
• B) does not include revenues since that information only appears on the revenue center responsibility report
• C) includes traceable fixed expenses
• D) is the same as a performance report

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Definitions:

M3

Represents an even broader definition of the money supply, including M2 plus larger time deposits, institutional money market funds, and larger liquid assets.

M2

An expansive categorization of money that encompasses cash, checking deposits, and forms of near money that can be easily converted into cash or used for payments.

M1

M1 encompasses the most liquid forms of money supply, including cash and assets that can quickly be converted to cash.

M2

M2 is a broader classification of money supply that accounts for currency in circulation and various other types of accounts that are less liquid than those in M1.