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In each blank next to the following terms, place the identifying letter of its best description. 1. _____ Cost center 2. _____ Investment center 3.

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In each blank next to the following terms, place the identifying letter of its best description. 1. _____ Cost center 2. _____ Investment center 3. _____ Departmental accounting system 4. _____ Operating department 5. _____ Profit center 6. _____ Responsibility accounting system 7. _____ Service department A. Incurs costs without directly yielding revenues. B. Provides information used to evaluate the performance of a department. C. Holds manager responsible for revenues, costs, and investments. D. Engages directly in manufacturing or in making sales directly to customers. E. Does not directly manufacture products but contributes to profitability of the entire company. F. Incurs costs and also generates revenues. G. Provides information used to evaluate the performance of a department manager

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