For Accounting Purposes, Both Revenue and Cost Data Are Accumulated

question 85

True/False

For accounting purposes, both revenue and cost data are accumulated for a profit center.

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Definitions:

Sales

The act of trading a good for cash; the process of making a sale.

Marginal Costs

The rise in the overall expense incurred from the production of an extra unit of a good or service.

Potential Customers

Individuals or organizations that could become purchasers of a product or service, but have not yet done so.

Expected Profit

The forecasted amount of profit based on potential outcomes and their probabilities.