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:

Chebyshev's Theorem

A statistical theorem that gives an inequality for assessing the probability that a random variable differs from its mean.

Empirical Rules

A statistical rule stating that for a normal distribution, nearly all data will fall within three standard deviations of the mean.

Interquartile Range

A measure of variability, calculated as the difference between the third (75th percentile) and first quartile (25th percentile), that indicates the middle 50% of the data.

Midrange

The statistical measure calculated as the mean of the highest and lowest values in a data set, providing a simple estimation of the data’s central tendency.