Select the Term from Below to Match with the Correct

question 59

Multiple Choice

Select the term from below to match with the correct statement.
-A(n) ___________ is a responsibility center in which a manager is responsible only for costs.

• A)centralization
• B)revenue center
• C)profit center
• D)cost center
• E)investment center
• F)decentralization

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Definitions:

Insurance Expense

The cost incurred by a company to insure its assets, operations, or liabilities over a certain period.

Accounts Payable

Liabilities or amounts owed by a business to its suppliers or vendors for goods and services received.

Adjustment

Modifications made to book records in order to align them with the actual financial status or to reflect changes.

Current Asset

A category of assets that are likely to be converted into cash, sold, or consumed within one business cycle or one year.