Which of the following positions would be responsible for establishing the long-term financial goals of the company, investing funds and raising capital?
A) credit manager
B) internal auditor
C) chief information officer
D) forensic accountant
E) finance officer
Answer: E
Explanation: Treasurers and finance officers have a more strategic role, establishing long-term financial goals and budgets, investing the firm's funds, and raising capital as needed.
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Which of the following represents the subset of board of directors that acts as a direct contact between stockholders and the independent accounting firm?
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Gercak Corporation has two production departments, Forming and Assembly. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Forming Department's predetermined overhead rate is based on machine-hours and the Assembly Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates:??FormingAssembly?Machine-hours16,00011,000?Direct labor-hours2,0007,000?Total fixed manufacturing overhead cost$100,800$76,300?Variable manufacturing overhead per machine-hour$1.70??Variable manufacturing overhead per direct labor-hour?$3.10During the current month the company started and finished Job X560. The following data were
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