Principles of Accounting Volume 2
19th Edition
ISBN: 9781947172609
Author: OpenStax
Publisher: OpenStax College
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Textbook Question
Chapter 9, Problem 10MC
Which of the following is not a type of responsibility center?
A. concentrated cost center
B. investment center
C. profit center
D. cost center
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Distinguish between a cost center, a profit center, and an investment center
What is the typical focus of responsibility reports for cost centers, revenue centers, and profit centers?
Define and give examples of the following terms: cost center, revenue center, profit center, and investment center.
Chapter 9 Solutions
Principles of Accounting Volume 2
Ch. 9 - Which of the following is nor a common goal of an...Ch. 9 - Which of the following does not describe a...Ch. 9 - In centralized organizations, primary decisions...Ch. 9 - A key advantage of a decentralized organization is...Ch. 9 - Strategic decisions occur ______. A. frequently...Ch. 9 - Segments are uniquely identifiable components of...Ch. 9 - Organizational charts _____. A. list the salaries...Ch. 9 - In a centralized organization, where are goals...Ch. 9 - Managers in decentralized organizations make...Ch. 9 - Which of the following is not a type of...
Ch. 9 - A system that establishes financial accountability...Ch. 9 - A responsibility center in which managers are held...Ch. 9 - A responsibility center structure that considers...Ch. 9 - An important goal of a responsibility accounting...Ch. 9 - Costs that a company or manager can influence are...Ch. 9 - An example of an uncontrollable cost would include...Ch. 9 - Internal costs that are charged to the segments of...Ch. 9 - A transfer pricing arrangement that uses the price...Ch. 9 - A transfer pricing structure that considers the...Ch. 9 - What is a management control system? What are its...Ch. 9 - Identify and describe the levels of management,...Ch. 9 - Discuss the difference between centralized and...Ch. 9 - Identity a company where you recently shopped....Ch. 9 - Discuss the difference between daily and strategic...Ch. 9 - Define segments and describe how identifying...Ch. 9 - Choose a company and describe how a specific...Ch. 9 - Choose a company and explain how a specific issue,...Ch. 9 - Assume you are the manager of a local Starbucks....Ch. 9 - Assume you are the manager of a local Starbucks....Ch. 9 - Lavell started out mowing lawns in the...Ch. 9 - Describe the concept of responsibility accounting.Ch. 9 - Describe the concept of a cost center and, using a...Ch. 9 - Describe the concept of a profit center and, using...Ch. 9 - Explain the benefits of a return on investment...Ch. 9 - Explain the benefits of a residual income...Ch. 9 - Discuss the concept of controllable and...Ch. 9 - Discuss the concept of transfer pricing.Ch. 9 - Discuss the advantages and disadvantages of a...Ch. 9 - Discuss the advantages and disadvantages of a...Ch. 9 - Discuss the advantages and disadvantages of a...Ch. 9 - Assume you have been hired by Hilton Hotels and...Ch. 9 - Consider the national nonprofit organization the...Ch. 9 - The following information is from Bluff Run Golf...Ch. 9 - The following information is from Daves Sporting...Ch. 9 - Assume you are the department B manager for...Ch. 9 - As manager of department B in MarIeys...Ch. 9 - Based on your research of the market in the...Ch. 9 - Using the information in the previous exercises...Ch. 9 - Assume you have been hired by Cabelas Sporting...Ch. 9 - Assume you are the regional manager for a hotel...Ch. 9 - The following information is from Dessert Dynasty....Ch. 9 - The following information is from Good Read Books....Ch. 9 - Assume you are the warehouse manager for Vinnies...Ch. 9 - As manager of the warehouse for Vinnies Vinyls,...Ch. 9 - Discuss how, as warehouse manager for Vinnies...Ch. 9 - Determine the operating income for Vinnies Vinyls...Ch. 9 - Use the following information to answer the...Ch. 9 - The income statement comparison for Forklift...Ch. 9 - Assume you are the leather department manager at...Ch. 9 - Financial information for BDS Enterprises for the...Ch. 9 - Using the information from BDS Enterprises,...Ch. 9 - Management of Great Springs Bottled Water Company...Ch. 9 - The following revenue data were taken from the...Ch. 9 - Use the following information to answer the...Ch. 9 - The income statement comparison for Rush Delivery...Ch. 9 - Assume you are the manager for the semi-trucks...Ch. 9 - Financial information for Lighthizer Trading...Ch. 9 - Using the information for Lighthizer Trading...Ch. 9 - Management of Green Peak Tea Company has asked...Ch. 9 - The following revenue data were taken from the...Ch. 9 - You have just been elected president of a...
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- Differentiate between a profit center and an investment center.arrow_forwardWhat are organizational and operational activities? Organizational cost drivers? Operational cost drivers?arrow_forwardThe ability to assign a cost directly to a cost object by means of a causal relationship is a. allocation b. traceability c. separability d. value chain processarrow_forward
- What are the objectives of a cost management information system?arrow_forwardDiscuss the concept of controllable and uncontrollable costs and how they affect the evaluation of the responsibility centers financial performance.arrow_forwardDescribe the concept of responsibility accounting.arrow_forward
- A responsibility center in which managers are held accountable for both revenues and expenses is called a ______. A. discretionary cost center B. revenue center C. cost center D. profit centerarrow_forwardExplain how the choice of the type of responsibility center (cost, revenue, profit, or investment) affects behavior.arrow_forwardMarketing costs and Maintenance costs are the examples of Select one: a. Revenue center O b. Cost center c. Investment center O d. Discretionary cost centerarrow_forward
- Which of the following types of responsibility centers have accountability for revenues? Cost centers and investment centers. Profit centers and investment centers. Cost centers and profit centers. Expense and investment centers.arrow_forwardA 'product' cost is a cost that is classified by: a. behavior b. function c. controllability d. relevancearrow_forward1 Responsibility centers typically involve cost, profit, and investment centers. What is the basic measure used to evaluate each of these responsibility center?arrow_forward
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