For each of the following, select its best description. A. Incurs costs without directly yielding revenues. B. Provides information used to evaluate the performance of a department. C. Performs an organization's main functions, like manufacturing and selling. D. Holds manager responsible for revenues, costs and major investing decisions. E. Lists actual costs a manager is responsible for and their budgeted amounts. F. Costs not within a manager's control or influence. 1. Responsibility accounting performance report 2. Cost center 3. Investment center 4. Operating department 5. Responsibility accounting system 6. Uncontrollable costs
For each of the following, select its best description. A. Incurs costs without directly yielding revenues. B. Provides information used to evaluate the performance of a department. C. Performs an organization's main functions, like manufacturing and selling. D. Holds manager responsible for revenues, costs and major investing decisions. E. Lists actual costs a manager is responsible for and their budgeted amounts. F. Costs not within a manager's control or influence. 1. Responsibility accounting performance report 2. Cost center 3. Investment center 4. Operating department 5. Responsibility accounting system 6. Uncontrollable costs
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:For each of the following, select its best description.
A. Incurs costs without directly yielding revenues.
B. Provides information used to evaluate the performance of a department.
C. Performs an organization's main functions, like manufacturing and selling.
D. Holds manager responsible for revenues, costs and major investing decisions.
E. Lists actual costs a manager is responsible for and their budgeted amounts.
F. Costs not within a manager's control or influence.
1. Responsibility accounting performance report
2. Cost center
3. Investment center
4. Operating department
5. Responsibility accounting system
6. Uncontrollable costs
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