Cost Center
A cost center is a section for generating business costs without producing revenue. It is an essential section that consumes resources yet it doesnât contribute to the sales, production, or profitability of a business.
The accounting and legal departments are good examples of a cost center. These departments donât help in producing goods in the company or boost sales in any way. However, they drain company resources. Cost centers are essential sections that help the business save money in the long term.
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