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Categories >> Accounting >> Accounting General
 
 


 

 
 Audit interview questions  Audit Interview Questions (428)
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 Accounting General interview questions  Accounting General Interview Questions (2843)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4376)
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
 
What is meant by minutes book?   2
What will be JV of if gets discount received from my vendors and as well as I allowed discount to my customer? What will be the journal entry in these both cases. Pls. give the answer, it's urgent.   5
goods sold to mr x of rs5000/-,out of that we give him discount allowed of rs 500/-,and we take setting charges of rs1000/-.so what will be the entry?   6
TDs Return in Excel format   2
what journal entry pass in case of vat refundable and in case of vat payable?   2
What is short term > debtors & Creditors ?? What is Long term > debtors & Creditors ??   2
Sales A/C belongs to which account type? OPI-Global 10
DIFFERNCE BETWEEN RESERVE AND FUND? Genpact 2
What Is The Difference Between Bill and Invoice.   2
What Is The Entry Of Partners Loan & In Which Voucher   2
WHAT IS ACCRUED INTEREST ? Accenture 4
If Pass book & Cash Books Balances are showing same so are you need to BRS ? Genpact 17
 
For more Accounting General Interview Questions Click Here 
 
 
 
 
 


   
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