A Responsibility Center in Which the Department Manager Has Responsibility

question 88

True/False

A responsibility center in which the department manager has responsibility for and authority over costs, revenues, and assets invested in the department is termed a cost center.

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Definitions:

Chesapeake Region

An area in the United States surrounding the Chesapeake Bay, known for its unique cultural heritage, history, and environmental significance.

Mercantilism

An economic theory and practice prevailing in Europe from the 16th to the 18th century, promoting governmental regulation of a nation's economy for the purpose of augmenting state power at the expense of rival national powers.

Olaudah Equiano

An African writer and abolitionist who was enslaved as a child, bought his freedom, and wrote an autobiography detailing his experiences.