Ownership and Creation of a Corporate Recovery and Management Plan

question 44

True/False

Ownership and creation of a corporate recovery and management plan in many organizations is the responsibility of the CEO, CFO, COO or other business executive.

---

Definitions:

Income Tax Expense

The amount of expense associated with income taxes due to federal, state, and/or local authorities for a given period.

Corporation Income Statement

A financial statement that outlines the revenues, expenses, and profits or losses of a corporation over a specific period of time.

Cash Dividend Liability

An obligation for a corporation to pay shareholders a declared dividend in cash.

Date of Record

The specific date set by a corporation upon which the company determines the shareholders eligible to receive a dividend or distribution.