The Controller of a Company Requests from a Manager a Listing

question 72

Multiple Choice

The controller of a company requests from a manager a listing of creditors to be paid within one year.Which of the following will provide this information?

• A) retained earnings
• B) accounts receivable
• C) mortgage
• D) accounts payable

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Definitions:

Fraud

Consciously tricking someone in order to gain illicitly or to rob a victim of their rightful due.

Fiduciary Duty

A legal obligation of one party to act in the best interest of another when entrusted with care of money, property, or confidential information.

Duress

Compulsion, force, or pressure exerted upon a person to coerce them into performing an act against their will or judgment.

Public Policy

Principals and standards considered to be in the interests of the public and used as a guide for lawmaking.