Question

Which example demonstrates a core responsibility of an organization’s finance function? A. employee payroll management B. appropriate tax assessments on employees’ salaries C. monitoring and maintaining records of expenditures D. maintaining healthy relationships with vendors E. assessing corporate taxes

Answer 1

The core responsibility for the financial function of an organization is to monitor and maintain expenditure records.

Option - C

Explanation:

The Finance Department is liable of an organization that acquires funds for a business, manages the organization's funds, and plans to invest the funds for different assets.

A department of finance currently has a variety of characters within an organization or outside it. Each company's success and reputation depend greatly on how well funding is managed. Most important for the smooth functioning of a company is that you keep a close watch on funding functions.

The importance of the financial department to any corporation and its effect on corporate efficiency would depend heavily on variables such as the undue interest of the owner/manager of his business.

• Accounting
• Cash flow management of the company
• Budgeting and forecasting
• Tax management
• Managing the company’s investment

Answer 2

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