What distinguishes a profit center from a cost center? a. Profit centers have revenues and expenses b. Profit centers have personnel costs Cc. ost centers are on the second floor d. Profit centers are the most important operations in the business

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter9: Responsibility Accounting And Decentralization
Section: Chapter Questions
Problem 12MC: A responsibility center in which managers are held accountable for both revenues and expenses is...
icon
Related questions
Question

What distinguishes a profit center from a cost center? a. Profit centers have revenues and expenses b. Profit centers have personnel costs Cc. ost centers are on the second floor d. Profit centers are the most important operations in the business

Expert Solution
steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Cost control
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Principles of Accounting Volume 2
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Managerial Accounting: The Cornerstone of Busines…
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning