In which of the following responsibility centers does the manager have responsibility for and authority over the unit's costs, but not its revenues or investment decisions? Group of answer choices a- Cost Center b- Profit Center c- Investment Center d- Liability Center
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- Which of the following is not a type of responsibility center? A. concentrated cost center B. investment center C. profit center D. cost centerWhich of the following types of responsibility centers have accountability for revenues? Cost centers and investment centers. Profit centers and investment centers. Cost centers and profit centers. Expense and investment centers.Distinguish between a cost center, a profit center, and an investment center
- Marketing costs and Maintenance costs are the examples of Select one: a. Revenue center O b. Cost center c. Investment center O d. Discretionary cost centerA responsibility center structure that considers investments made by the operating segments by using a common cost of capital percentage is called_______. A. return on investment B. residual income C. a profit center D. a discretionary cost center1 Responsibility centers typically involve cost, profit, and investment centers. What is the basic measure used to evaluate each of these responsibility center?
- . Name the units of service on which cost-based payers may pay providersDefine and give examples of the following terms: cost center, revenue center, profit center, and investment center.Matching Following are a number of key terms and concepts introduced in thechapter, along with a list of corresponding definitions. Match the appropriate letter for the key term or concept to each definition provided (items 1–12). Note thatnot all key terms and concepts will be used. Answers are provided at the end of thischapter.a. Cost–volume–profit analysisb. Cost formulac. Contribution margind. Contribution margin formatincome statemente. Linearity assumptionf. Contribution margin ratiog. Operating leverageh. Sales mixi. Break-even pointj. High–low techniquek. Managerial accountingl. Management processm. Variable costn. Fixed costo. Relevant rangep. Mixed (semivariable) costq. Cost behavior pattern____ 1. The proportion of total sales represented by various products or categoriesof products.____ 2. The difference between revenues and variable costs.____ 3. The concept that operating income changes proportionately more than revenues for any given change in revenues.____ 4. The…
- Explain the following basic principles in cost management:a. profitsb. life cycle costsc. tangible cost and benefitsd. intangible costs and benefitse. direct and indirect costsf. reservesWhich of the following is the format of the income statement that is MOST useful in decision-making? Select one: A. Multiple-step format B. Absorption costing format C. Single-step format D. Contribution margin formatWhich service department cost allocation method provides for reciprocal allocation of service costs among the service department as well as to the revenue producing departments? a. Method of Algebra b. Step method c. Indirect method d. direct method e. None of the above