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Question 5 A difference between a Cost Center and a Profit Center is that a: O a) Cost Center is responsible for revenues and expenses. Ob) Cost Center and a Profit Center are both only responsible for the same expenses. Oc) Cost Center is not responsible for expenses. d) Cost Center is not responsible for revenues.

Question 5 A difference between a Cost Center and a Profit Center is that a: O a) Cost Center is responsible for revenues and expenses. Ob) Cost Center and a Profit Center are both only responsible for the same expenses. Oc) Cost Center is not responsible for expenses. d) Cost Center is not responsible for revenues.

FINANCIAL ACCOUNTING
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 5 A difference between a Cost Center and a Profit Center is that a: O a) Cost Center is responsible for revenues and expenses. Ob) Cost Center and a Profit Center are both only responsible for the same expenses. Oc) Cost Center is not responsible for expenses. d) Cost Center is not responsible for revenues.
Transcribed Image Text:Question 5 A difference between a Cost Center and a Profit Center is that a: O a) Cost Center is responsible for revenues and expenses. Ob) Cost Center and a Profit Center are both only responsible for the same expenses. Oc) Cost Center is not responsible for expenses. d) Cost Center is not responsible for revenues.
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