What is the difference between a cost center and a profit center?

Question:

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

College Accounting A Practical Approach Chapters 1-25

ISBN: 9780133791006

13th Edition

Authors: Jeffrey Slater

See More Books

Question Posted: Aug 16, 2023 09:00 AM

See More Questions

What is the difference between a cost center and a profit center? Between a profit center and an investment center?
What is the difference between a cost center and a profit center?
What is the difference between a cost that is variable and variable costing?
Suppose that the probability that a mechanic fixes a car correctly is 0.9. Determine the odds against the mechanic fixing a car correctly.
When a customer during the negotiation process is able to get the vendor to accept a clause such as Guarantee of reliability and exercise of due professional care, what does that mean?
The angular frequency $\omega$ of a simple pendulum can be calculated by treating the pendulum as a one-dimensional oscillator. In Section 15.4, we used this approach to analyze the restoring force...
Create a cost estimate and model for building a new, state-of-the-art multimedia classroom for your organization within the next six months. The classroom should include 20 high-end personal...
Exhibit 1: Prices and projected annual sales volumes for Sony PlayStation 3 and Microsoft Xbox 360 Elite Exhibit 2: Sony PlayStation 3 Production Costs per unit in dollars Exhibit 3: Microsoft Xbox...
What are the possible effects of a high unemployment rate on a country's economy?
When you look at the 2013 annual report for Kelloggs Company at http://investor.kelloggs.com/investor-relations/annual-reports, do you think Kelloggs uses a voucher system?
Go to the 2013 annual report for Kelloggs Company at http://investor.kelloggs.com/investor-relations/annual-reports. Find the net sales figure for Latin America for 2013 in Project K in note 3.
Find (a) The greatest common divisor (GCD) (b) The least common multiple (LCM). 32 and 224
Gary Tuttle has Citiwide Insurance with 100% coverage after a $25.00 copay on office visits. His services today include an office visit ($62.00), urinalysis with differential ($65.00) and a Treadmill...
The Elgin Golf Dutton Golf Merger Elgin Golf Inc. has been in merger talks with Dutton Golf Company for the past six months. After several rounds of negotiations, the offer under discussion is a...
f ( x ) = x ^ 3 - 3 x ^ 2 - 2 4 x + 5 6 find all critical numbers
Suppose a beam of electrons is aimed at two slits in a slide placed in front of a screen. After a short time, the screen looks like the one at the right. a. What evidence does the picture give that...
On January 1, Mitzu Company pays a lump-sum amount of $2,700,000 for land, Building 1, Building 2, and Land Improvements 1. Building 1 has no value and will be demolished. Building 2 will be an...
The variable capacitance of an old radio tuner consists of four plates connected together placed alternately between four other plates, also connected together (Fig. 19-92). Each plate is separated...
Find the APR in each of the following cases: NUMBER OF TIMES COMPOUNDED Semiannually Monthly Weekly Infinite EAR APR 10.4% 8.9 11.6 15.4
John VanWyk owns VanWyks Tractor Shop in Bathurst. (In the Excel templates in MyLab Accounting, balances as of April 1 are provided for the accounts receivable and general ledger accounts.) In Johns...
Journalize, record, and post when appropriate the following transactions into the sales journal (same headings as exercise E13-1A) and general journal (page 1). All sales carry terms of 2/10, n/30....
Journalize, record, and post when appropriate the following transactions into the sales journal (same headings as exercise E13-1B) and general journal (page 1). All sales terms are 2/10, n/30. Use...
What is Coke's average ownership percentage in its equity method investments? Goodwill is 7000 Calculate the firm's current ratio (current assets/current liabilities). Calculate the current ratio...
John has to choose between Project A and Project B, which are mutually exclusive. Project A has an initial cost of $30,000 and an internal rate of return of 16 percent. Project B has an initial cost...
Complete the table below, for the above transactions

What is the difference between a cost center and a profit center?

Question:

Step by Step Answer:

A cost center and a profit center are both terms used in managerial accounting to categorize different segments of a business based on their functions ...View the full answer

College Accounting A Practical Approach Chapters 1-25

Students also viewed these Business questions