Which Activities Do Accounting and Finance Components Perform

question 1

Multiple Choice

Which activities do accounting and finance components perform?

• A) Track employee information including payroll, benefits, compensation, and performance assessment and assume responsibility for compliance with the legal requirements of multiple jurisdictions and tax authorities
• B) Handle the various aspects of production planning and execution such as demand forecasting, production scheduling, job cost accounting, and quality control
• C) Manage accounting data and financial processes within the enterprise with functions such as general ledger, accounts payable, accounts receivable, budgeting, and asset management.
• D) None of these

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Definitions:

Shipment Date

The shipment date is the day on which goods are officially transferred from the seller to the carrier or dispatched for delivery to the buyer.

FOB Shipping Point

A shipping term indicating that the buyer assumes responsibility for the goods and shipping costs the moment the goods leave the seller's premises.

Title Passes

Refers to the transfer of ownership of property or goods from a seller to a buyer upon the fulfillment of certain conditions.

Shipment Date

The date on which goods are dispatched to a customer.