COST CENTER Definition

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COST CENTER is a non-revenue-producing element of an organization, where costs are separately figured and allocated, and for which someone has formal organizational responsibility.

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PEER REVIEW, in accounting, is a practice monitoring program in which the audit documentation of one CPA firm is periodically reviewed by independent partners of other firms to determine that it conforms to the standards of the profession.

Dr is an ancient Italian abbreviation for the Italian word 'debare'; meaning 'debit' (not to be confused with the acronym DR with both letters in uppercase).

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