Which of the Following Is Not an Obligation of Management

question 92

Multiple Choice

Which of the following is not an obligation of management in an organization with strong ethical practices and internal controls?

• A)to safegauard the funds invested by owners of the company
• B)to maintain internal controlswithin the organization
• C)to safeguard the personal assets and investments of each owner, and make
• D)to enforce a code of ethics

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Definitions:

Optimal Taxation

The theory or practice of determining the most efficient and effective way of levying taxes to generate government revenue with minimal economic distortion or inefficiency.

Excess Burden

The societal expense resulting from market inefficiency, which arises when supply and demand are not in balance.

Progressive

A term often used in the context of taxation or political ideology, indicating policies or stances that aim to redistribute resources from the more affluent to the less affluent.

Income Tax

Tax levied by a government directly on income, especially an annual tax on personal income.