Accounting and Finance Each Have Significant Responsibilities Related to the Firm's

question 120

Multiple Choice

Accounting and finance each have significant responsibilities related to the firm's financial performance; however, the accountant's role is informational, while the financial analyst's role is critical and investigative. Therefore, we can say that:

• A)the accountant's job stops at the presentation of information.
• B)the analyst must rely on the accountant to assist in analyzing the financial statements because the accountant is more familiar with their content.
• C)the financial analyst assesses the information presented in the accountant's financial statements to seek out problems and their ramifications for the firm.
• D)financial analysts qualified to practice as CPAs may undertake both responsibilities and eliminate any overlap of similar tasks.

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Definitions:

Robert Zajonc

A psychologist known for his work on the mere-exposure effect and social facilitation.

William James

A pioneering American philosopher and psychologist, known for his foundational contributions to functionalism and pragmatism in psychology.

Robert Zajonc

A psychologist known for his work on social facilitation, the mere exposure effect, and other social and cognitive processes.

Emotional Reactions

The responses, often quick and automatic, of the emotional system to external or internal events.