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Is the department belong to the manager who is responsible for both cost and revenue?Solution(By Examveda Team)
A manager, who is responsible for both cost and revenues belongs to department of profit center. A profit center is a branch or division of a company that directly adds to the corporation's bottom-line profitability.
What are the three types of responsibility centers?Types of Responsibility Centers. Revenue Center. A revenue center is solely responsible for generating sales. ... . Cost Center. A cost center is solely responsible for the incurrence of certain costs. ... . Profit Center. ... . Investment Center.. In which of the following is a manager responsible for only costs?A manager who is responsible for only cost of company belongs to cost center. A cost center is a department within an organization that does not directly add to profit but still costs the organization money to operate.
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