In a Profit Center,the Manager Has Responsibility and Authority for Making

question 7

Multiple Choice

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

• A)liabilities.
• B)assets.
• C)equity.
• D)costs.

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Definitions:

Maximin Criterion

A principle in decision making which aims to maximize the minimum gain, often used in the context of ensuring the best worst-case scenario.

Income Transfer

The redistribution of income through government policies or mechanisms, often from wealthier to poorer individuals, to reduce income inequality.

Well-Being

A general term for the condition of an individual or group, encompassing physical, psychological, and social aspects of health and happiness.

Welfare Reform

Changes in the administration of national or local welfare systems, often aiming to reduce dependency, encourage employment, and manage costs.