Cost centers Flashcards
1
Q
Cost centers help us to
A
separate different activities or functions within our accounts and budgets.
2
Q
Each cost center is given a
A
unique reference or code.
3
Q
By using cost centers together with account codes, it is easy to
A
budget and track income and expenses by department or project as well as by income or expense type.
4
Q
staff training related to
A
account code
5
Q
program Y related to
A
cost center
6
Q
project X related to
A
cost center
7
Q
Department Z related to
A
cost center
8
Q
Which coding structure shows the program, project, funder or department that income or expenditures belong to.
A
cost center code
9
Q
The account codes identify the type of expense transaction, while the cost center codes answer the question,
A
“Which project, department, or funder does this activity belong to?”
