The key difference between the responsibilities of the controller and those of the treasurer is best defined as the separation of duties between
A)managing assets versus managing debt and equity.
B)processing tax records versus accounting records.
C)national versus international operations.
D)production versus marketing.
E)cash control versus accounting records.

Question

Quizplus · Accepted Answer

The key difference between the responsibilities of the controller and those of the treasurer is the separation of duties between cash control and accounting records. The controller is responsible for managing accounting records, including financial reporting and budgeting, while the treasurer is responsible for managing and controlling cash and financial assets. While managing assets versus managing debt and equity is a relevant difference in financial management, it is not the key difference between the responsibilities of the controller and treasurer. Similarly, processing tax records versus accounting records is not a key difference, as both parties are likely to be involved in both areas. National versus international operations, or production versus marketing, are not relevant to the comparison of the responsibilities of the controller and treasurer.

The Key Difference Between the Responsibilities of the Controller and Those