CA Inter Paper 4 Practice Questions - CA Intermediate Paper 4 Cost And Management Accounting Exam

Which of the following best describes a 'cost centre' under ICAI terminology?

A unit of product or service for which cost is computed A location, person or item of equipment for which cost is ascertained and used for cost control A department that generates revenue independently A statement summarising total cost of production

Correct Answer:

A location, person or item of equipment for which cost is ascertained and used for cost control

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