Solved

Match the Appropriate Definition a Through H with the Following

Question 209

Matching

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

Premises:
Cost center
Investment center
Responsibility accounting system
Departmental contribution to overhead
Profit center
Performance report
Responses:
A department whose manager is judged on the ability to control costs by keeping them within a satisfactory range.
A measure of departmental sales less direct expenses.
A department whose manager is judged on the ability to generate revenues in excess of the department's costs.
A department or unit that generates revenues and incurs costs,in which the manager is also responsible for investments made in operating assets.
Set up to control costs and evaluate managers' performances by assigning costs to the managers responsible for controlling them.
Compares actual and budgeted costs and expenses under the control of a manager.

Correct Answer:

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

Q182: Jarrett Department Store operates three departments (A,

Q187: A _ provides information for managers to

Q193: A_ accumulates and reports costs and expenses

Q201: A(n) _is a department that generates revenues

Q202: _ are costs incurred to produce or

Q203: The _ is a report of the

Q204: In the two-stage cost allocation, _ costs

Q205: The first three steps in preparing a

Q206: The investment center return on investment is

Q210: Match the appropriate definition with the following

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents