Which one of the following statements is correct concerning the organizational structure of a corporation?
A) The vice president of finance reports to the chairman of the board.
B) The chief executive officer reports to the board of directors.
C) The controller reports to the president.
D) The treasurer reports to the chief executive officer.
E) The chief operations officer reports to the vice president of production.

Question

Quizplus · Accepted Answer

The chief executive officer is responsible for leading the corporation and usually reports to the board of directors. Therefore, choice B is correct. The vice president of finance would typically report to the chief financial officer, who in turn might report to the CEO or the board, but not to the chairman of the board (choice A). The controller would typically report to the chief financial officer or the CFO's designate, not to the president (choice C). The treasurer would report to the CFO, not the CEO (choice D). The chief operations officer would be responsible for overseeing the company's overall business operations, and would usually be at a higher level in the organizational hierarchy than the vice president of production (choice E).

Which One of the Following Statements Is Correct Concerning the Organizational