Responsibility Accounting – Multiple Choice Questions (MCQs)

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1. Which of the following correctly describes a  cost center?

 
 
 
 

2. Which of the following correctly describes a profit center?

 
 
 
 

3. Which of the following correctly describes a responsibility center?

 
 
 
 

4. Which of the following would be a false statement about segmented income statements?

 
 
 
 

5. Which of the following is true about common fixed costs?

 
 
 
 

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