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Survey of Accounting (Accounting I)

8th Edition
Carl Warren
ISBN: 9781305961883

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Survey of Accounting (Accounting I)

8th Edition
Carl Warren
ISBN: 9781305961883
Textbook Problem

Differentiate between a profit center and an investment center.

To determine

Concept Introduction:

Cost center:

Cost center incurs the costs and does not generate the revenue directly.

Investment Center:

Investment center takes care of revenue, cost and investment.

Profit Center:

Profit center generate revenue and incur expenses.

To Indicate:

The difference between the profit center and investment center.

Explanation

The profit center is responsible for generating profits whereas the investment center takes care of revenue, cost and investment.

All the factors of investments centers (revenue, expe...

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