A Responsibility Center in Which the Department Manager Has Responsibility

question 37

Multiple Choice

A responsibility center in which the department manager has responsibility for and authority over costs and revenues is called a (n)

• A) profit center
• B) investment center
• C) volume center
• D) cost center

Recognize the importance of engaging with the audience and allowing for interaction in pitches.

Comprehend the attributes of effective public speaking and presentation skills.

Understand the critical components of a pitch deck and their relevance in showcasing the venture.

Grasp the concept and purposes behind the use of pitch decks in gaining support for entrepreneurial ventures.

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Definitions:

General Partner

A member of a partnership who has unlimited personal liability for the debts and obligations of the partnership, and who has the authority to act on behalf of the partnership in management matters.

Limited Partnership

A form of partnership consisting of at least one general partner who manages the business and is personally liable for partnership debts, and one or more limited partners who provide capital and whose liability is limited to the amount of their investment.

Share of Loss

The portion of financial loss attributed to a participant in a business or investment venture, proportional to their stake or agreement terms.

General Partner

An owner of a partnership who has unlimited personal liability and is involved in the everyday operations of the business.