For each of the following, select its best description. A. Provides information used to evaluate the performance of a department. B. Performs an organization's main functions, like manufacturing and selling. C. Costs incurred for the joint benefit of more than one department. D. Holds manager responsible for revenues, costs and major investing decisions. E. Costs that can be readily traced to a department. F. Costs not within a manager's control or influence. 1. Investment center 2. Responsibility accounting system 3. Uncontrollable costs |4. Operating department 5. Direct expenses 6. Indirect expenses

For each of the following, select its best description. A. Provides information used to evaluate the performance of a department. B. Performs an organization's main functions, like manufacturing and selling. C. Costs incurred for the joint benefit of more than one department. D. Holds manager responsible for revenues, costs and major investing decisions. E. Costs that can be readily traced to a department. F. Costs not within a manager's control or influence. 1. Investment center 2. Responsibility accounting system 3. Uncontrollable costs |4. Operating department 5. Direct expenses 6. Indirect expenses

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

For each of the following, select its best description.
A. Provides information used to evaluate the performance of a department.
B. Performs an organization's main functions, like manufacturing and selling.
C. Costs incurred for the joint benefit of more than one department.
D. Holds manager responsible for revenues, costs and major investing decisions.
E. Costs that can be readily traced to a department.
F. Costs not within a manager's control or influence.
1. Investment center
2. Responsibility accounting system
3. Uncontrollable costs
|4. Operating department
5. Direct expenses
6. Indirect expenses

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