--%>
Assignment Help - homework help

Define Responsibility Center

Responsibility Center: It is an organizational unit headed by the manager or a group of managers who are responsible for its actions. The responsibility centers can be measured as revenue centers (that is responsible for revenue or sales only), cost centers (that is, responsible for costs or expenses only), profit centers (that is, responsible for revenues and costs), or investment centers (answerable for revenues, investments, and costs).

   Related Questions in Managerial Accounting

  • Q : Define Actual Cost Actual Cost : It is

    Actual Cost: It is the amount (sum) determined on the basis of cost acquired involving standard cost appropriately adjusted for the applicable variance.

    		•
  • Q : Explain Responsibility Segment

    Responsibility Segment: A noteworthy organizational, functional, operational, or process component that has the characteristics as: (i) Its manager reports to the entity's top management;

  • Q : What is Job Order Costing Job Order

    Job Order Costing: A technique of cost accounting which accrued costs for individual jobs or lots. A job might be a service or manufactured item, like the repair of tools or the treatment of a patient in the hospital.

    		•
  • Q : Basic accounting principles or concepts

    ACCOUNTING CONCEPTS: Presented below are basic accounting principles or concepts, with which hospital managers should be familiar and that they should understand i

    		•
  • Q : What is a Product Product : Any

    Product: Any traceable, discrete, or measurable good or service given to a customer. Frequently goods are termed to as tangible products, and services are termed to as intangible products. A good or service is the product result of a procedure resulta

    		•
  • Q : Banker’s acceptance A security that

    A security that starts as an instrument similar to as check, in which a customer asks the bank to pay the designated amount to a payee in the future. The bank accepts the order, becoming responsible for payment, because the customer has the money to back the check, an

    		•
  • Q : Define Process and Process Costing

    Define Process and Process Costing: Process: The organized process of transforming inputs (that is, people, equipment, techniques, materials, and atmosphere), to outputs (that is, products or servi

    		•
  • Q : Main working areas of the Marketing

    Write a short note on the main working areas of the Marketing department?

    		•
  • Q : Explain Process Value Analysis Process

    Process Value Analysis: Tools and methods for studying processes via customer value analysis. Its objective is to recognize opportunities for lasting enhancement in the performance of an association. It offers an in-depth review of wo

    		•
  • Q : Comparative-Advantage Approach to

    We study optimal government debt maturity in a model where investors derive monetary servicesfrom holding riskless short-term securities. In a simple setting where the government is the onlyissuer of such riskless paper, it trades off the monetary premium associated w

    		•