The Individuals at Page Manufacturing Perform the Following Duties

question 93

Multiple Choice

The individuals at Page Manufacturing perform the following duties: Identify Employee C and Employee D.

• A)CEO: COO
• B)Treasurer; Controller
• C)Internal Audit Function; Audit Committee
• D)Cross-Functional Team; Treasurer
• E)Audit Committee; CEO

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Definitions:

Credit Side

The right side of an accounting ledger where increases in liabilities, equity, and revenue accounts, or decreases in assets and expense accounts are recorded.

Normal Balance

The side (debit or credit) of an account that is typically increased. For assets and expenses, it's debit; for liabilities, equity, and income, it's credit.

Account

A record that keeps track of all financial transactions related to an asset, liability, equity, revenue, or expense.

Increases

The action or process of becoming larger in quantity, size, amount, or degree in a financial or numerical context.