1. Responsibility CentersIndicate how each of the business situations below is most likely to be organized: cost center (CC), revenuecenter (RC), profit center (PC), or investment center (IC)A. The assembly department of Toyota Motors Corporation.B. The Ayala Mall car park ticket outlets.C. The Magnolia product division of San Miguel Corporation.D. The accounting department of SM Malls.E. The Project 8 branch of Starbucks Coffee.F. The College of Accountancy of the España University.G. The parts department of Suzuki Motors Corporation.H. The convenience store (Mini-Stop) that is owned by a chain organization; the head office supplies allthe goods to be sold and determines the selling prices.

Business situation refers to any circumstance, condition, or event that affects a company's…

Answered: 1. Responsibility Centers Indicate how…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter12: Balanced Scorecard And Other Performance Measures

Section: Chapter Questions

Problem 3EA: Identify the type of responsibility center (revenue center, cost center, profit center, or...

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Which of the following statements is true? I. A packaging department is most likely a cost center. II. In a profit center, the manager is most likely in-charge of investments, revenues and costs. III. The cafeteria in the college is most likely a profit center. IV. A business unit within a business is an example of a revenue center a. All but II b. I only c. All statements are true d. All but II and III e. I and II only Clear my choice
In each of the following situations, identify which type of responsibility center is appropriate based on the decision-making authority the manager would possess: 1. The manager of the accounting department in Ford’s corporate office. 2. The sales manager of a Ford dealership. 3. The general manager of a Ford dealership. 4. The manager of Ford’s corporate division. 5. The production manager in a Ford plant. options: Cost Center Investment Center Profit Center Revenue Center
When you look at the organizational structure of ABC Inc., you notice that the Marketing department is divided into communications, event planning, marketing, and web content. You also see that the Accounting department has separate units for accounts payable and accounts receivable. ABC Inc. uses ________ departmentalization. Question 9 options: A) product B) geographic C) functional D) customer E) process
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Define responsibility accounting, and describe the four types of responsibility centers. How can you implement responsibility accounting in a small business?
1. Customer profitability analysis allows managers to do which of the following? a. Identify the closest competitor. b. Sell to higher end customers. c. Manage each customer's costs-to-serve. d. Focus solely on service calls. 2. What is the focus of operational control? a. Long-term operating performance. b. The profitability of the company. c. The activities of company executives. d. Short-term operating performance. 3. The objectives of management control of the manager include: a. Cost, quality, and functionality. b. Management by objectives. c. Management by exception. d. Motivation, incentive, and fairness. 4. Cost allocation of costs for shared services in an organization is intended to remind managers of: a. The cost and value of using shared resources. b. How much capacity a firm has. c. Manufacturing cycle time. d. Variable costing income calculations. 5. The method for directly measuring the value of a firm's equity is: a. Market value. b. Sales multiple. c. Earnings-based…
Successful ERP systems support the core business processes in a company's operations. Every function within the ERP is called a module. Listed below are four key features. Which is a key feature of the production module? (a) Inventory (b) Bill of material (c) Receive payment (d) Marketing Management

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