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Categories >> Accounting >> Accounting General
 
 


 

 
 Audit interview questions  Audit Interview Questions (427)
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 Accounting General interview questions  Accounting General Interview Questions (2808)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4359)
Question
what is the meaning of Cost center?
 Question Submitted By :: Accounting-General
I also faced this Question!!     Answer Posted By  
 
Answer
# 1
A cost center is part of an organization that does not
produce direct profit and adds to the cost of running a
company. Examples of cost centers include research and
development departments, marketing departments, help desks
and customer service/contact centers.
 
Is This Answer Correct ?    26 Yes 3 No
Swetha Naidu
 
Answer
# 2
Cost Centre is a code created by a Company for its internal
Departments (ex: Sales Dept, Pur Dept, Marketing Dept,
Finance Dept) to debit expenses according to the User Dept.

Costcentre shows the expenses incurred by user dept for the
Financial period and helps in Checking of Costs.
 
Is This Answer Correct ?    23 Yes 3 No
Venkat
 
 
 
Answer
# 3
cost centre mainly used by the company,firm and all
oraganisation for various site expense know under theier
rectifing . they used cost centre.
ex. delhi branch spend adv. Rs10000&
Mumbai branch spend Rs.5000
if we are entered in ledger adv. expen. but if we
applicable cost centre we recongnised mubai branch expence
and delhi.
 
Is This Answer Correct ?    7 Yes 4 No
Yadav Kuldeep
 
Answer
# 4
cost centre may be an item of equipment, a person, a deptt
etc from where cost is recovered.
this is basically recording a cost / expense in appropriate
place / group / centre.
 
Is This Answer Correct ?    7 Yes 5 No
Dinesh
 
Answer
# 5
All ways Better Control. 
Is This Answer Correct ?    2 Yes 1 No
Raja
 
Answer
# 6
CIMA defines cost centres as "a production or service, function, activity, or item of equipment whose cost may be attributed to cost units. A cost centre is the smallest organizational sub-unit for which separate cost allocation is attempted". 
Is This Answer Correct ?    0 Yes 0 No
Mrs. Sharma
 

 
 
 
Other Accounting General Interview Questions
 
  Question Asked @ Answers
 
How to Finalized Accounts? Please Guide.   2
What is budget variance analysis?   1
HOW DO PREPARE CASH FLOW   2
what is salary slab for tds Automobile 1
Maintaining books of accounts (Cash, Petty Cash, Bank,   1
what is the meaning of debit and credit   1
sir, i m working in an ngo as accountant but new. pleas clear my doubt in tally. suppose 'a' salary is 5000. he taken 3000 advance from salary and not returned. i paid a cheque next month rest 2000. 'b' salary is 10000, taken 5000 advance from salary and returned so i paid him 10000 total salary. what all to do in tally. is the following procedure is ok or not? Banking 5
what is tds rates for company / indivisuals?   1
What is Excise Duty ? How its entry will be passed in accounting book ?   2
1, How enter Accumulated Deprication Journal Entry, (Land& Building Value 500000 AED, How to pass entry?   4
What is Profit and Loss Account? What is Balance Sheet?   4
Amortization Bank-Of-America 2
 
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