Which Activities Do Accounting and Finance Components Perform

question 107

Multiple Choice

Which activities do accounting and finance components perform?

• A)Track employee information, including payroll, benefits, compensation, and performance assessment, and assume compliance with the legal requirements of multiple jurisdictions and tax authorities.
• B)Handle the various aspects of production planning and execution such as demand forecasting, production scheduling, job cost accounting, and quality control.
• C)Manage accounting data and financial processes within the enterprise with functions such as general ledger, accounts payable, accounts receivable, budgeting, and asset management.
• D)None of these.

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Definitions:

Perfectly Competitive

A market structure characterized by a large number of small firms, homogeneous products, free entry and exit, and perfect information, where no single firm can influence the market price.

Disequilibrium

A situation in a market where supply does not equal demand, leading to a temporary imbalance and potential for price changes.

Incentive

A factor, either monetary or non-monetary, that motivates individuals or entities to perform an action or engage in a certain behavior.

Long Run

A period of time in economics sufficient for all markets to adjust to changes, including those of supply and demand.