Who Is the Party Responsible for for Ensuring That Financial

question 94

Short Answer

Who is the party responsible for for ensuring that financial statements for an organization are properly done?

---

Definitions:

Opportunity Cost

The potential benefit lost when choosing one alternative over another.

Excess Capacity

The amount by which current production capabilities exceed the current demand for a company's products or services.

Performance Evaluation

The process of assessing and reviewing an employee's or an organization's performance against predetermined objectives or criteria.

Bottom-line Profit

The net income or the final profit figure after all expenses, taxes, and costs have been subtracted from total revenues.