Cost centres are NOT classified as responsibility centres since there is no revenue responsibility.
Correct Answer:
Verified
Q7: Operating assets include all those listed under
Q11: Which one of the following statements describes
Q20: A flexible budget is based on the
Q21: Investment and profit centres generate both revenues
Q22: Investment centres generate a return on operating
Q23: Return on investment is the primary basis
Q24: Since a profit centre is an independent
Q26: "The buck stops here" implies that all
Q27: Residual income is the income that remains
Q28: When evaluating residual income, the calculation tells
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