Multiple Choice
Which of the following statements is most correct concerning diversification and risk in the context of accounting and financial reporting?
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1. Introduction to Accounting
Types of Accounting
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Which of the following positions is primarily responsible for raising capital and investing funds within an organization?
A
Cost Accountant
B
Chief Financial Officer (CFO)
C
Controller
D
Internal Auditor
Verified step by step guidance1
Understand the roles of each position listed in the problem: Cost Accountant, Controller, Internal Auditor, and Chief Financial Officer (CFO).
Recognize that the Chief Financial Officer (CFO) is primarily responsible for managing the financial strategy of an organization, which includes raising capital and investing funds.
Clarify that the Cost Accountant focuses on analyzing costs and efficiency within the organization, not raising capital or investing funds.
Explain that the Controller oversees financial reporting and compliance but does not typically handle capital raising or investment decisions.
Note that the Internal Auditor ensures the accuracy of financial records and compliance with regulations, which is distinct from the CFO's role in capital and investment management.
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