The Responsibility of Management Includes

question 25

Multiple Choice

The responsibility of management includes:

• A) making fair representations in the financial statements.
• B) maintaining adequate internal controls.
• C) adopting sound accounting policies.
• D) all of the above

---

Definitions:

Incorporation Process

The series of legal steps taken to form a legally recognized company or corporation.

Jurisdiction

The official power to make legal decisions and judgments, typically a geographic area or over certain types of legal cases.

Advantages

The positive, beneficial aspects or factors contributing to success, efficiency, or achievement of goals.

Obligations and Duties

Requirements or demands made legally or morally upon a person, which are necessary to fulfill a contract or role.