Which of the Following Statements About the Use of Accounting

question 3

Multiple Choice

Which of the following statements about the use of accounting information by the marketing function is false?

• A)People in the marketing function use accounting information to help figure selling prices.
• B)Accounting information would be needed to appraise different ways of getting the product to customers.
• C)Those in the marketing function do not use accounting information; they leave all of that to their accountants.
• D)Accounting information is needed for product-selection decisions.

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Definitions:

Corporate Formalities

The procedures, rules, and policies that a corporation must follow to ensure legality and protect its shareholders.

Annual Meeting

A yearly gathering of the members or shareholders of an organization to discuss its performance, elect leadership, or make decisions on corporate issues.

Directors

Directors are individuals elected to a corporation's board to oversee and guide the organization's policies and direction.

Fiduciary Duty

A legal obligation of trust requiring an individual to act in the best interests of another party, often seen in the context of trustees, guardians, and financial advisors.