learning objective 1 6 1 line management a is also known as staff management b is di 4311967

learning objective 1 6 1 line management a is also known as staff management b is di 4311967

Learning Objective 1-6

1) Line management:

A) is also known as staff management.

B) is directly responsible for achieving the goals of the organization.

C) is never responsible for achieving the goals of the organization.

D) is not responsible for achieving the financial goals of the organization because that is the job of the CFO.

E) never have organizational goals to achieve.

2) Which of the following is true about the modern concept of controllership?

A) The controller does not affect the entire company.

B) Has no influence on employee behavior.

C) Does not attend meetings with other managers.

D) The controller affects the entire company.

E) Does not exert a force that impels line managers toward better decisions.

3) Organization charts:

A) do not show reporting relationships.

B) show informal reporting relationships.

C) are never understood, and they are never written.

D) show formal reporting relationships.

E) are understood, but never written.

4) The term used to describe the concept that includes providing financial information for reports to managers and shareholders, and oversight to the overall operations of the accounting system is:

A) internal audit.

B) external audit.

C) controllership.

D) treasury.

E) funding.

5) The term used to describe the oversight in banking and short- and long-term financing, investments, and cash management is:

A) risk management.

B) internal audit.

C) controllership.

D) treasury.

E) funding.

6) The ________ is the financial executive primarily responsible for management accounting and financial accounting.

A) treasurer

B) controller

C) manager

D) COO (Chief Operating Officer)

E) CIO (Chief Information Officer)

7) The main purpose of an organizational chart is to show the formal reporting relationships at an organization.

8) Although modern controllers have line authority over only their own departments, the modern concept of controllership maintains that the controller affects the entire company.

9) Regional controllers have a functional responsibility to the corporate controller to align accounting policies and practices.

10) Successful management accountants only possess one skill and that is their ability to communicate in the organization.

11) Management accountants do not work in teams because they are not a business partner at the firm.

12) The informal relationships in organizations between friends and other managers are not important when managers attempt to implement their decisions.

13) Write a brief essay and summarize the different duties, responsibilities, and the basic skills of a Chief Financial Officer (CFO) and a Corporate Controller. Discuss some of the responsibilities that are typical in each role. Be specific.

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