Indicate Whether Each of the Following Statements About Responsibility Centers

Short Answer

Indicate whether each of the following statements about responsibility centers is true or false.
A responsibility center controls identifiable revenue or expense items.______
To be designated as a responsibility center,a department need not be a large segment of an organization.______
A cost center generates revenues and expenses.______
Investment centers are commonly found at upper levels of the organization chart.______
The manager of a profit center is evaluated based primarily on his/her ability to control costs.______