The Key Difference Between the Responsibilities of the Controller and Those

question 32

Multiple Choice

The key difference between the responsibilities of the controller and those of the treasurer is best defined as the separation of duties between

• A)managing assets versus managing debt and equity.
• B)processing tax records versus accounting records.
• C)national versus international operations.
• D)production versus marketing.
• E)cash control versus accounting records.

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Definitions:

Fixed Costs

Expenses that do not change with the level of production or sales over a short period, such as rent, salaries, and insurance.

Book Value

The net value of an asset or company calculated as total assets minus intangible assets and liabilities.

Variable Costs

Expenses that change in proportion to the production or sales quantities.

Operating Loss

A situation where a company's operating expenses exceed its gross profits or revenues, indicating a loss in its core business activities.