Asked by
Averie gatzounas
on Nov 12, 2024
Verified
The profit center income statement should include only revenues and expenses that are controlled by the manager.
Profit Center
A separate business unit or department within an organization that is responsible for generating its own revenue and profits.
Income Statement
A financial statement that shows a company's revenues and expenses over a specific period, culminating in a net income or loss.
- Acquire knowledge about the separation of controllable and uncontrollable expenses implicated in budgeting and evaluating performance.
Verified Answer
GD
Learning Objectives
- Acquire knowledge about the separation of controllable and uncontrollable expenses implicated in budgeting and evaluating performance.
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