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What is the difference between a cost center a profit center and an investment center?
Cost centers - http://en.wikipedia.org/wiki/Cost_center Profit center - http://en.wikipedia.org/wiki/Profit_center Investment center - http://en.wikipedia.org/wiki/Investment_center
What is an accountable depot?
An accountable depot is a depot maintaining a formal set of accountable records.
What conditions are necessary for the successful introduction of profit centers and investment centers?
Successful introduction of profit centers and investment centers requires clear organizational goals and performance metrics that align with those goals. Additionally, effective communication and accountability structures must be established to ensure that managers have the necessary authority and resources to make decisions. A supportive culture that encourages entrepreneurial thinking and risk-taking is also essential, along with robust financial reporting systems to track performance accurately. Finally, ongoing training and support for managers are crucial to adapt to the new structure and optimize decision-making.
Are accountable officials are pecuniary liable for illegal improper or incorrect payments as a result of negligent performance of accountable official duties?
Yes
What is an accountable disbursing officer?
An accountable disbursing officer is a commissioned military officer who disburses and receives public money for legal purposes.
Give three examples of responsibility centers in a business?
Responsibility centers deal with financial accountability. Here are four Expense Centers Revenue Centers Profit Centers Investment Centers
What are departments called that resemble separate businesses in that they produce and market their own products?
Departments that resemble separate businesses by producing and marketing their own products are commonly referred to as "profit centers." These profit centers operate semi-independently within an organization, managing their own revenues and expenses, and are held accountable for their financial performance. This structure allows for greater focus on specific markets or products, fostering innovation and responsiveness to customer needs.
Why Cost center profit center investment center has its own budget?
To monitor,and make accountable, the management team for that Cost/Profit/Investment center.
You are on the board of directors of a large corporation you are primarily accountable to?
That would depend on the type of corporation. If a for-profit enterprise, you would be responsible to the shareholders. If a non-profit, then your responsibility is primarily to the donors, in accordance with the by laws.
What is the General Liability Class code for day care centers?
40006-0-Adult Day Care 40005-0-Adult Day Care - Not for Profit 42059-0-Day Camps - All other 41715-0-Day Care Centers 41716-0-Day Care Centers - Not for Profit Only
What are examples for responsibility centers?
cost center investment center profit center revenue center
What sort of fund raisers do the Cancer centers of America host?
The Cancer Centers of America are a for-profit group of treatment centers that don't typically hold fundraisers. However, you could easily get involved with the American Cancer Society if you want to volunteer.
Is profit a good thing?
Well, you have to remember, if there is no profit there is no business. Businesses must make a profit in order to survive. In this sense profit is good. That being said, businesses should show social responsibility, and should be held accountable for what they sell and how they sell it. In this sense, profit made through means that hurt society or the individuals within a society (to include employees as well as customers) should be noted as not good.
Is profit always a good thing?
Well, you have to remember, if there is no profit there is no business. Businesses must make a profit in order to survive. In this sense profit is good. That being said, businesses should show social responsibility, and should be held accountable for what they sell and how they sell it. In this sense, profit made through means that hurt society or the individuals within a society (to include employees as well as customers) should be noted as not good.
What do you think are the source of conflicts in the agency between the profit centers?
Conflicts in an agency between profit centers often arise from competing interests and resource allocation, as each center prioritizes its own financial goals over collaborative efforts. Misalignment in objectives can lead to a lack of communication and cooperation, resulting in a silo mentality. Additionally, performance metrics that focus solely on individual profit can exacerbate tensions, as centers vie for limited resources and recognition. Ultimately, fostering a culture of collaboration and shared goals can help mitigate these conflicts.
Which type of control system is being implemented when management uses prices profit centers in exchange relationships as a control?
The type of control system being implemented is known as a "market-based control system." In this approach, management utilizes pricing mechanisms within profit centers to guide behavior and decision-making in exchange relationships. By establishing clear financial metrics and performance indicators, this system incentivizes managers to align their actions with the overall organizational goals, promoting accountability and fostering competition among profit centers.
Which type of control system is being implemented when management uses prices profit centers and exchange relationships as to control?
Market Control
