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ACCT4 Chp 11
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A business segment whose manager has control over cost, revenue, and investments in operating assets.
Investment center
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A department that does not directly engage in operating activities; rather, it provides services or assistance to the operating departments.
Service department
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Sales divided by average operating assets.
Turnover
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Cash, accounts receivable, inventory, plant and equipment, and all other assets held for operating purposes.
Operating Assets
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Any business segment whose manager has control over costs, revenues, or investments in operating assets.
Responsibility center
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Net operating income divided by average operating assets. It also equals margin multiplied by turnover.
Return on investment (ROI)
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A department in which the central purposes of the organization are carried out.
Operating department
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Net operating income divided by sales.
Margin
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A business segment whose manager has control over cost but has no control over revenue or investments in operating assets.
Cost center
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The net operating income that an investment center earns above the minimum required return on its operating assets.
Residual income
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An organization in which decision-making authority is not confined to a few top executives but rather is spread throughout the organization.
Decentralized organization
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A business segment whose manager has control over cost and revenue but has no control over investments in operating assets.
Profit center
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