Answer Posted / ravikant
A department or other section of a company where managers
are directly responsible for costs. For example, consider a
company that has a manufacturing department, a research and
development department, and a payroll department. Each
department could be a cost center, and the directors of
each department would be responsible to keep costs to as
low a level as possible. The company thus accounts for each
cost center separately, which allows managers to take
immediate responsibility for cost growth and credit for
cost cutting.
Is This Answer Correct ? | 8 Yes | 3 No |
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