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QS 22-4
In each blank next to the following terms, place the identifying letter of its best description nd nt terms A. Incurs costs without directly yiclding revenes B. Provides information used to evalsate he 1._ Cost center 2.- Investment center 3. 4· Operating department 5. 6. 7. parfor mance of a department. Departmental accounting system Profit center Responsibility accounting system C. Holds manager responsible for revenses D. Engages directly in m E. Does not directly manufacture products bu orb F. Incurs costs and also generates revennes investments anufacturing or it makng sales directly to customers Service department utes to profitability of the entire company G. Provides information used to evaluate the perfomc of a department manager
Expert Answer
| Cost Center | Incurs costs without directly yielding revenues |
| Investment Center | Holds manager responsible for revenues, costs and investments |
| Departmental Accounting system | Provides information used to evaluate the performance of a department |
| Operating Department | Engages directly in manufacturing or in making sales directly to customers |
| Profit center | Incurs costs and also generates revenues |
| Responsibility accounting system | Provides information used to evaluate the performance of a department manager. |
| Service Department | Does not directly manufacture products but contributes to the profitability of the entire company |
