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What component of accounting classification identifies the responsible organization or who is incurring the cost?
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What is the component of an accounting classification identifies the responsible organization or who is incurring the cost?
The component of an accounting classification that identifies the responsible organization or the entity incurring the cost is known as the "cost center." A cost center is a department or unit within an organization that is responsible for controlling costs and is accountable for its financial performance. This classification helps in tracking expenses and evaluating the efficiency of various segments within the organization.
What component of accounting classification identifies the nature of the services or items purchased or what is being purchased?
EEIC
What component of an accounting classification identifies the nature of the services purchased?
Element of Expense Investment Code (EEIC)
What component of an accounting classification identifies the nature of services or items purchases?
Element of Expense Investment Code (EEIC)
What component of accounting classification identifies the responsible organization or who is incurring the cost?
Rc/cc
The component of an accounting classification identifies the responsible organization of who is incurring the cost?
Rc/cc
What is the component of an accounting classification identifies the responsible organization or who is incurring the cost?
The component of an accounting classification that identifies the responsible organization or the entity incurring the cost is known as the "cost center." A cost center is a department or unit within an organization that is responsible for controlling costs and is accountable for its financial performance. This classification helps in tracking expenses and evaluating the efficiency of various segments within the organization.
What component of accounting classification identifies the nature of the services or items purchased or what is being purchased?
EEIC
What component of an accounting classification identifies the nature of the services purchased?
Element of Expense Investment Code (EEIC)
What component of accounting classification identifies the nature of the services or items purchased?
Element of Expense Investment Code (EEIC)
What component of an accounting classification identifies the nature of the services or items purchased?
Element of Expense Investment Code (EEIC)
What component of an accounting classification identifies the nature of services or items purchases?
Element of Expense Investment Code (EEIC)
What component of an accounting classification identifies the nature of the services or items purchased of what is being purchased?
Element of Expense Invenstment Code (EEIC)
What component of an accounting classification identifies the nature of the services or items purchased or what is being purchased?
Element of Expense Invenstment Code (EEIC)
Which of the following is the most appropriate and modern definition of accounting?
The information system that identifies, records, and communicates the economic events of an organization to interested users.
What is the difference between indigenous and formal bookkeeping?
Formal bookkeeping identifies with external accounting. This is the way you present your numbers to the stakeholders. Large companies are required to have their numbers checked by external accountants. This is done to increase the reliability of the presented numbers to the shareholders.Informal bookkeeping identifies with internal accounting. This is how an organization keeps track of its financial records. There are no specific rules which have to be followed, as this information is used to control the organization.
