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Match the Appropriate Definition a Through H with the Following

Question 162

Matching

Match the appropriate definition a through h with the following terms:

Premises:
Departmental contribution to overhead
Profit center
Cost center
Investment center
Performance report
Responsibility accounting system
Responses:
A department whose manager is judged on the ability to generate revenues in excess of the department's costs.
Compares actual and budgeted costs and expenses under the control of a manager.
Provides information that management can use to evaluate the performance of a department's managers.
A center whose manager is responsible for using the center's assets to generate income for the center.
Departmental sales in excess of its direct costs and expenses.
A department whose manager is judged on the ability to control costs by keeping them within a satisfactory range.

Correct Answer:

Departmental contribution to overhead
Profit center
Cost center
Investment center
Performance report
Responsibility accounting system
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