Which of the Following Is Not One of Management's Responsibilities

question 104

Multiple Choice

Which of the following is not one of management's responsibilities?

• A) Ensuring accounting principles are following in preparing financial statements.
• B) Engaging a qualified auditor.
• C) Implementing effective internal controls.
• D) Ensuring financial statements and disclosures are accurate.

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Definitions:

Foreign Assets

Investments or properties owned by individuals, companies, or governments in countries other than their own.

Trade Balance

The difference in value between a country's imports and exports over a certain period, indicating the relative strength of its economy.

Net Capital Outflow

The sum representing a country's outbound investments minus its inbound investments from abroad over a specific period.

Investment

The allocation of resources, such as capital or time, in expectation of future benefit or profit.