Who Is Responsible for Operating an Enterprise

question 93

Multiple Choice

Who is responsible for operating an enterprise?

• A)The auditor.
• B)The audit committee.
• C)Management.
• D)The board of directors.

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Definitions:

Work Week

A fixed, regular schedule during which an individual is employed to work, typically consisting of 40 hours spread across five days in many countries.

Expenses

Expenses refer to the outflows or consumption of assets or incurrence of liabilities during an accounting period, stemming from activities that drive revenue.

Income

Earnings obtained from work, investments, or business operations, reflecting the financial gain.

Net Income

Net Income is the total earnings or profit of a company after subtracting all expenses from revenue, indicating the financial performance over a specific period.