In the Managerial Structure of the Corporation the Two Officers

question 4

Multiple Choice

In the managerial structure of the corporation the two officers and their responsibilities that report directly to the Chief Financial Officer are:

• A) the credit manager who handles accounts receivable and the tax manager who minimizes tax payments.
• B) the personnel manager who manages salaries and compensation and the production operations manager who manages facility operations.
• C) the treasurer who is responsible handling cash flow and making financial decisions and the tax manager who minimizes tax payments.
• D) the controller who manages the accounting function and the treasurer who is responsible handling cash flow and making financial decisions.

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Definitions:

Management Of Payments

The process of overseeing and conducting all transactions related to payments, including the timing and amounts of money going in and out of a business.

Invoice

A document issued by a seller to a buyer, detailing products or services provided, their prices, and the total amount due for payment.

Net 30

A payment term indicating that payment is due in full 30 days after goods are delivered or a service is completed.

Forego Discounts

The opportunity cost of not taking advantage of early payment discounts offered by suppliers.