Review the Following Individual Accounting System Components That Contain the Skills

question 14

Multiple Choice

Review the following individual accounting system components that contain the skills and capabilities of individuals in Chart A and review the accounting system components that contain the skills and capabilities of individuals in Chart B. Which of the following describes the individual required to perform the accounting system skills and capabilities in Chart A and which individual is the responsible individual required to perform the skills and capabilities in Chart B?

• A)Chart A: Independent Auditor; Chart B: Internal Audit Function
• B)Chart A: Managerial Accountant; Chart B: Financial Accountant
• C)Chart A: Audit Committee; Chart B: Cross Functional Teams
• D)Chart A: Cross Functional Teams; Chart B: Treasurer
• E)Chart A: Controller; Chart B: Treasurer

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Definitions:

Upward Counterfactual

Thinking about how a situation could have turned out better, often leading to feelings of regret.

Magical Thinking

Believing that one’s thoughts, wishes, or desires can influence the physical world or that events are connected in ways that defy scientific principles.

Counterfactual

Thinking that involves imagining alternative scenarios and outcomes that might have happened, but did not.

Short-term Memory

The capacity for holding a small amount of information in an active, readily available state for a short period of time.