Homework Answers
a responsibility center is a subdivision of the company which has some degree of authority and responsibility relating to costs, profit and investment.
so responsibility center is divided into 3 subcenteres i.e.
cost center : the department which is responsible for the costs of the company, example of cost department are production department, maintenance department, accounting department, human resource department, etc.
profit centers: this department is responsible for revenue of the company and the costs.
investment center: the department is responsible for the investment decisions aswell as the costs and reveue.
hence from the above explanation we can justify that responsibility center is broadly defined as a part of organization responsible for control over and is accountable for costs.
Answer is TRUE
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