Matching
Match the following terms with the appropriate definition
Premises:
Investment center
Performance report
Cost center
Departmental contribution to overhead
Profit center
Responsibility accounting system
Responses:
A department whose manager is judged on the ability to generate revenues in excess of the department's costs.
A department or unit that generates revenues and incurs costs, in which the manager is also responsible for investments made in operating assets.
Set up to control costs and evaluate managers' performances by assigning costs to the managers responsible for controlling them.
Compares actual and budgeted costs and expenses under the control of a manager.
A department whose manager is judged on the ability to control costs by keeping them within a satisfactory range.
A measure of departmental sales less direct expenses.
Correct Answer:
Premises:
Responses:
Investment center
Performance report
Cost center
Departmental contribution to overhead
Profit center
Responsibility accounting system
Premises:
Investment center
Performance report
Cost center
Departmental contribution to overhead
Profit center
Responsibility accounting system
Responses:
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