A profit center is responsible for generating revenue and for controlling costs.

Question

Quizplus · Accepted Answer

A profit center is a business unit within an organization that is responsible for generating revenue and controlling costs, with the goal of earning a profit. This is in contrast to a cost center, which is responsible for controlling costs but not necessarily generating revenue, and a revenue center, which is responsible for generating revenue but not controlling costs.

A Profit Center Is Responsible for Generating Revenue and for Controlling