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Question
Match the appropriate definition with the following terms:1) Activity-based costing
2) Joint cost
3) Cost center
4) Direct expenses
5) Investment center
6) Indirect expenses
7) Controllable costs
8) Profit center
A) Costs readily traced to a specific department because they are incurred for the sole benefit of that department.
B) Cost allocation system based on separate activities and cost pools.
C) A department that incurs costs and generates revenues.
D) Costs which a manager can strongly influence or control.
E) Costs that are incurred for the joint benefit of more than one department and cannot be readily traced to only one department.
F) A department or unit that incurs costs without directly generating revenues.
G) Costs incurred to produce two or more products at the same time.
H) A center in which a manager is responsible for using the center's assets to generate income for the center.
Answer
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