Who Bears Ultimate Responsibility for the Financial Statements

question 58

Multiple Choice

Who bears ultimate responsibility for the financial statements?

• A)Management of the organization, equally with the external auditor that audits the statements.
• B)Management and the shareholders of the organization.
• C)The external auditor that audits the statements.
• D)Management of the organization.

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Definitions:

Lesion

Any damage or abnormal change in the tissue of an organism, usually caused by disease or trauma.

Aphasia

A language disorder that results from damage to parts of the brain responsible for language, affecting speaking, understanding, reading, and writing.

Frontal Lobes

The part of the brain located at the front of each cerebral hemisphere, responsible for problem solving, decision making, and controlling behavior and emotions.

Phineas Gage

A historically significant individual in the study of neurology and psychology, known for surviving a traumatic brain injury that significantly changed his personality and behavior.