Under the Concept of Establishment of Responsibility, How Many People

question 31

Multiple Choice

Under the concept of establishment of responsibility, how many people should have the ultimate responsibility?

• A)Everyone in the organization.
• B)An individual and his/her supervisor.
• C)Only one individual.
• D)The CEO.

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Definitions:

Period

A specific duration of time used for financial reporting and analysis, typically a fiscal quarter or year.

Cost of Goods Sold

Direct expenditures linked to the creation of goods sold by a business.

Calculate

To determine something mathematically, such as a sum, total, or other numeric value.

Period

A length of time in financial accounting, often used to report earnings or track expenses, such as a quarter or fiscal year.