Solution-Distinguish among a cost center and a profit center

Distinguish among a cost center and a profit center

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Reference no: EM132470764

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The decision-making authority assigned to managers within the different responsibility centers (cost, profit and investment) will differ based on the type of center because the role of management's responsibilities also differs. Therefore, the accounting information required for planning, control, and performance evaluation differs according to the nature of these responsibilities.

Please, address the following:

Question 1: Distinguish among a cost center, a profit center, and an investment center. Provide an example of each for a multi-hospital corporation.

Question 2: What are some of the uses that management may make of accounting information about individual responsibility centers of the business?

Reference no: EM132470764

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Distinguish among a cost center and a profit center

Reference no: EM132470764

Reference no: EM132470764

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