Departmental income statements are prepared for operating departments (profit centers) but not service departments (cost centers).
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Q16: A profit center generates revenue, incurs costs,
Q17: The number of hours that a department
Q18: Evaluation of the performance of an investment
Q19: Cost center managers are evaluated on their
Q20: Investment center managers are evaluated on their
Q22: A useful measure used to evaluate the
Q23: No standard rule identifies the best basis
Q24: Joint costs can be allocated either using
Q25: Departmental contribution to overhead is the amount
Q26: Investment center managers are typically evaluated using
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