Responsibility accounting reports for profit centers will include
A) costs only
B) revenues only
C) expenses and fixed assets
D) revenues,expenses,net income or loss from operations

Question

Quizplus · Accepted Answer

Responsibility accounting reports for profit centers will include both revenues and expenses in order to calculate net income or loss from operations. This information is critical for evaluating the profitability of the profit center and making decisions about resource allocation and improvement opportunities. Including only costs or revenues alone would not provide a complete picture of the center's performance. Fixed assets may be included in a separate report, but would not be considered in the context of responsibility accounting for profit centers.

Responsibility Accounting Reports for Profit Centers Will Include