Multiple Choice
Which of the following best describes the capital resources Teasha needed to open her business?
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1. Introduction to Accounting
Types of Accounting
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Which of the following positions generally report to the Chief Financial Officer (CFO)?
A
Chief Executive Officer (CEO)
B
Chief Marketing Officer (CMO)
C
Chief Information Officer (CIO)
D
Controller
Verified step by step guidance1
Understand the role of the Chief Financial Officer (CFO). The CFO is responsible for managing the financial actions of a company, including financial planning, risk management, record-keeping, and reporting.
Identify the positions that typically report to the CFO. These positions are usually related to financial management and operations, such as the Controller, Treasurer, and Internal Audit Manager.
Clarify the role of the Controller. The Controller oversees the accounting operations, including the production of financial reports, maintenance of accounting records, and ensuring compliance with financial regulations.
Compare the roles of the CEO, CMO, and CIO. The CEO (Chief Executive Officer) is the highest-ranking executive and does not report to the CFO. The CMO (Chief Marketing Officer) handles marketing strategies and reports to the CEO or another executive, not the CFO. The CIO (Chief Information Officer) manages IT and technology strategies and typically reports to the CEO or COO.
Conclude that the Controller is the correct answer because their responsibilities align directly with the financial oversight and reporting functions managed by the CFO.
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