RESPONSIBILITY CENTER Definition

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RESPONSIBILITY CENTER is a subunit in an organization whose manager is held accountable for specified financial results of its activities.

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MARKET TO BOOK VALUE is calculated by dividing the market value (MV) of a company, i.e., the total value of all its outstanding shares, by the value of its tangible assets (TA). Also known as TOBIN RATIO = MV/TA.

ELECTRONIC DATA PROCESSING (EDP) is the processing of information by computer as opposed to handwritten records.

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