Costs Flashcards
1
Q
Cost centre
A
a section of a business, such as a department, to which costs can be allocated or charged.
2
Q
Profit centre
A
a section of a business to which both costs and revenues can be allocated – so profit can be calculated.
3
Q
Full costing
A
a method of costing in which all fixed and variable costs are allocated to products, services or divisions of a business.
