The Officer Who Is Generally Responsible for Maintaining the Cash

question 127

Multiple Choice

The officer who is generally responsible for maintaining the cash position of the corporation is the

• A)controller.
• B)treasurer.
• C)cashier.
• D)internal auditor.

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Definitions:

Corporation

A legal entity that is separate from its owners, offering limited liability to its shareholders, and is able to own assets, incur liabilities, and enter into contracts.

Securities And Exchange Commission

A federal agency responsible for enforcing US federal securities laws and regulating the securities industry, stock and options exchanges.

GAAP

Generally Accepted Accounting Principles, a standard framework of guidelines for financial accounting used in any jurisdiction.

U.S. Government Agency

A governmental body within the United States that operates under specific regulatory or administrative purposes, either at the federal, state, or local level.