Which Position Is Generally Directly Responsible for Financial Planning and Capital

question 25

Multiple Choice

Which position is generally directly responsible for financial planning and capital expenditures?

• A)Controller
• B)Treasurer
• C)Director
• D)Chairman of the board
• E)Chief operations officer

---

Definitions:

Inventory Control

A system used to oversee and manage the ordering, storage, and use of inventory in a business.

Initial Record

Initial record refers to the first entry of a transaction into the accounting system. This record is crucial for maintaining the accuracy and integrity of financial data.

Perpetual Inventory

An inventory management system that updates item records on a continuous basis as transactions occur, providing real-time inventory levels.

Weighted Average

A calculation that takes into account the varying degrees of importance of the numbers in a dataset, often used in accounting to determine inventory costs.