A 'De Facto Director' Is Someone Who Is

question 5

Multiple Choice

A 'de facto director' is someone who is:

• A)Recognised to be a director but has not been properly appointed.
• B)Incompetent.
• C)Appointed at the request of a particular group in the company.
• D)A non-executive director.

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Definitions:

Budget Reports

Financial documents that compare actual financial results to the budgeted figures, helping in tracking performance and planning.

Actual Costs

The real costs incurred in the production of goods or the providing of services, as opposed to estimated costs.

Budgeted Amounts

Projected financial figures or allocations for revenues, costs, expenses, etc., established during the budgeting process.

Master Budget

A comprehensive financial plan made up of several individual budgets that outline a company's financial and operational goals.