--%>

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 : Functions explain how the provision of

    explain how the provision of management accounting information can assist the management of a company with planning, controlling, decision making and communicating

  • Q : Capital gain The increase in value that

    The increase in value that the owner of a capital asset receives when the asset is sold. The owner pays tax on that gain or increases, at a lower rate if the assets that are sold are capital asset, such as factory buildings, rather than assets that are sold in the nor

  • Q : Basic Fortran Project Fortran Project

    Fortran Project This is our last project of the semester. You have freedom to code anyway you like, but make sure to meet the minimum project requirements.&nb

  • Q : Define Estimated Cost Estimated Cost :

    Estimated Cost: The procedure of projecting a future outcome in terms of cost, based on information accessible at the time. The estimated costs, instead of actual costs, are at times the basis for credits to work-in-process accounts a

  • Q : Balloon payment The final payment in a

    The final payment in a partially amortized loan. The balloon payment repay the entire remaining principal and is usually larger than previous payments on the loan. Loan that is set up with balloon payments allow the borrower to make the purchase and have a lower payme

  • Q : Asset retirement obligation Significant

    Significant costs associated with the disposal of asset. Accounting for asset retirement obligations requires estimating the cost and discounting estimate. The present value added to the asset's depreciable base and a liability is recorded for the obligation. Every year, interest expense is added

  • Q : Write a short note on Not-for-profit

    Write a short note on Not-for-profit organizations?

  • Q : Define Avoidable Cost Avoidable Cost :

    Avoidable Cost: The cost related with an activity which would not be acquired if the activity were not executed.

  • Q : Federal budget Choose the right answer

    Choose the right answer from following. Which one did not contribute to the large Federal budget deficits in the year of 2002 and 2003? A) spending on the wars in Afghanistan and Iraq. B) low interest rates. C) Federal tax cuts. D) the recession of 2001 and its afterm

  • Q : Define Full Cost Full Cost : The sum of

    Full Cost: The sum of all costs needed by a cost object comprising the costs of activities executed by other entities in spite of of funding sources.