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Categories >> Accounting >> Accounting General


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what is the meaning of Cost center?
 Question Submitted By :: Naims09
I also faced this Question!!     Rank Answer Posted By  
  Re: what is the meaning of Cost center?
# 1
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
  Re: what is the meaning of Cost center?
# 2
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
  Re: what is the meaning of Cost center?
# 3
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 ?    6 Yes 5 No
  Re: what is the meaning of Cost center?
# 4
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
  Re: what is the meaning of Cost center?
# 5
All ways Better Control. 
Is This Answer Correct ?    2 Yes 1 No
  Re: what is the meaning of Cost center?
# 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
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Can pls tell me difference between simple cash book & accrued cash book? Mphasis 1
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Why does closing stock does not appear in trial balance? LCCI 1
which opening balance should be taken after bank reco.   3
If chq of Rs. 15000 bounced then how to enter reverse entery > Voucher Type....   3
Name three (3) equity security data points   2
In which side Investment is comes In Balence shhet ?   5
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