Who Is Most Responsible for Operation of the Accounting System

question 44

Multiple Choice

Who is most responsible for operation of the accounting system in an organization?

• A) The controller and the chief executive officer
• B) The controller and the chief financial officer
• C) The controller and the board of directors
• D) A and B, but not C
• E) B and C, but not A
• B

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Definitions:

Inflation Rate

The percentage increase in the general price level of goods and services in an economy over a period of time.

Peso-Dollar Exchange

The rate at which the currency of one country (Peso) is exchanged for the currency of another country (Dollar), which fluctuates over time.

Purchasing Power

The ability of an individual or group to buy goods and services with their income.

Internet of Things

A network of interconnected devices, machinery, and systems designed to collect, exchange, and analyse data, enhancing automation and efficiency.