13-A
14.
You were newly appointed as controller of CZX Corporation. Among the jobs
your department would do include the following:
a. Cash receipts, cash disbursements, general accounting, taxation, financial
accounting analysis, and internal auditing.
b. Financial reporting, strategic planning, managerial accounting, taxation,
financial statement analysis, and internal accounting.
c. Financial accounting, managerial accounting, cost accounting, inventory
accounting, payroll accounting, tax accounting and sales forecasting.
d. Tax accounting, managerial accounting, internal auditing, general accounting.
14-D
15.
Controllership has attained special recognition in corporate management as
business expands in complexity and reach, and as the controller exerts influence for
management to take organization’s goals. Controllership and treasurership
constitute corporate finance. These are among the controller’s traditional
functions:
1. Tax management.
2. Financial reporting and interpretation.
3. Credit management.
4. Sourcing and investing of funds.
5. Reporting to government regulatory agencies.
6. Risk management.
7. Economic appraisal.
8. Planning for control.
a. All eight items.
c. Items 1, 2, 3, 4, 5, 7, and 8 only.
b. Items 1, 2, 5, 7, and 8 only. d. 2, 3, 5, and 7, and 8 only.
15-B
16.
The chief management accountant called “controller” traditionally performs
these functions except:
a. The establishment and implementation of the financial planning process.
b. Financial and management reporting and interpretation.
c. Protection of company resources and economic evaluation.
d. Preparation of proposals for product promotions.
16-D
17.
As business increase in complexity, the function of controllership has
attained top level recognition in the corporate area. Many areas related to finance
and accounting have been identified with controllership. One area that becomes
controversial when included under the controller and viewed that such inclusion
violates basic internal control is
a. Credit and collection.
b. Internal auditing.
c. Long-range financial planning.
d. Taxation and reporting to government agencies.
17-B
18.
Which of the following is not usually a controller’s function?
a. Planning for control.
c. Tax administration.
b. Protection of assets.
d. Credit and collection.
18-D
3