Question

cost centre consists of a group of persons like foremen, storekeeper, etc.​

Answer 1

Explanation:

Personal cost centre a cost centre which consists of a person or a group of persons. An impersonal cost centre is a cost centre that consists of a department, plant or item of equipment (or group of these).

Answer 2

Answer:

Cost Centre are those departments that do not generate revenue on their own but cost money to the business.

Explanation:

• Cost Centre are those departments that do not generate revenue on their own but cost money to the business.
• These are usually administrative, service, and support roles.
• These costs cannot be cut because they are important for the smooth operation of the organization.
• Cost centers can be individual roles, like janitors, storekeepers, or human resource personnel, or full departments, like IT departments, etc.
• The size and the number of Cost Centre depend on the magnitude of the company.

There are six different types of Cost Centre ;

• Impersonal cost center
• Operation cost center
• Personal cost centers
• Product cost center
• Process cost center
• Service cost center