Financial Services Refer to Functions Provided by Organizations That _____

question 79

Multiple Choice

Financial services refer to functions provided by organizations that _____. 

• A)deal with the most efficient management of the human resources
• B)ensure that regulations of the Sarbanes-Oxley Act are followed by public corporations
• C)recommend the most environment friendly method of operations to a corporation
• D)recommend the types of securities to be issued to finance plant expansions
• E)deal with the management of money

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Definitions:

Deferred Tax Liability

A financial obligation recorded on a company's balance sheet that results from a difference in the timing of when income is earned and when it is taxable.

Installment Sales

Revenue recognition method allowing income to be realized at the time of sale but received through regular payments over time.

Contingent Liability

A potential financial obligation that may arise depending on the outcome of a future event.