what is the meaning of Cost center?

Answers were Sorted based on User's Feedback



what is the meaning of Cost center?..

Answer / swetha naidu

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

what is the meaning of Cost center?..

Answer / venkat

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

what is the meaning of Cost center?..

Answer / yadav kuldeep

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

what is the meaning of Cost center?..

Answer / dinesh

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

what is the meaning of Cost center?..

Answer / raja

All ways Better Control.

Is This Answer Correct ?    2 Yes 1 No

what is the meaning of Cost center?..

Answer / mrs. sharma

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

Post New Answer

More Accounting General Interview Questions

while preparing final accounts of a service rendering shop,then where do the purchases and sales come as closing stock is not there

1 Answers  


what is the difference between 'Quotation' & 'Profarma Invoice'?

5 Answers  


what is the difference between equity shareholder and prefrence shareholder?

2 Answers  


What is the Difference between A/C Payee Chq. and Bearer Chq. ?

8 Answers  


How do you classify errors in accounting?

0 Answers  






a cc. has balance Rs. 8,40,000 at the credit of profit and loss a/c this balance is used for redemption of debentures what will be the entry

0 Answers  


Role-specific management accountant job interview questions:

0 Answers  


The following are the transactions with respect to goods traded by Gopal- i) Purchased goods worth Rs.50,000 on 1-1-2005 for cash ii) Sold goods costing Rs.20,000 for Rs.30,000 on cash iii) Bought goods Rs.45,000 from Suresh & Co on credit iv) Paid Rs.30,000 to Suresh who gave us a discount of Rs1,000 v) Sold goods Rs.23,000 but their cost is Rs.12,000 for cash vi) Sold goods to Gangadhar for Rs12,000 on credit,(cost Rs 9000) vii) Received cash from Gangadhar Rs.11,500 in full settlement. viii) Paid carriage charges on the goods purchased Rs.2,000. Find out the closing stock as on 31 -1-2005. Also, find how much is still due to Suresh?

14 Answers   ICA,


Hi, Mobile manufacturing given a mobile phone as a gift to their employee. What journal entry we need to pass in company point of view.

0 Answers  


entry of salary after deducting esi and pf

2 Answers   Fiat,


WHAT TYPE OF QUESTION WILL YOU ASK IN INTERVIEW BECAUSE IAM FRESHER

2 Answers   Bank of Baroda, State Bank Of India SBI, Vserve,


why we have to post loss on assets side

1 Answers  


Categories