Asked by
Elora Capps
on Nov 17, 2024
Verified
The profit center income statement should include only revenues and expenses that are controlled by the manager.
Profit Center Income Statement
A financial report that measures the profitability of a particular segment, department, or division within a company, distinguishing it from other areas of the business.
Revenues and Expenses
Revenues refer to the money generated from normal business operations while expenses are the costs incurred to generate those revenues.
- Recognize the attributes and duties associated with various categories of responsibility centers.
- Comprehend the notions of direct and indirect operating expenditures and their importance to specific sectors or divisions.
Verified Answer
LB
Learning Objectives
- Recognize the attributes and duties associated with various categories of responsibility centers.
- Comprehend the notions of direct and indirect operating expenditures and their importance to specific sectors or divisions.