Financial Managers Are Best Described by Which of the Following

question 163

Multiple Choice

Financial managers are best described by which of the following?

• A) They focus on profit maximization.
• B) They track how money is flowing into and out of the company.
• C) They play such an important organizational role that they often are called operations managers.
• D) They are not typically involved in long-term strategic planning.

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Definitions:

Cash Payments Journal

A journal used in accounting to record all payments made by a company, including expenses and purchases.

Accounts Payable

Liabilities or amounts owed by a company to suppliers or creditors for goods and services received but not yet paid for.

Double Entry System

An accounting method where every transaction is recorded in at least two accounts, ensuring the accounting equation remains balanced.

Technological Advances

Refers to the progress in technology which enhances productivity, efficiency, and innovation in various fields.