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Asked by Ana Bel Montes on May 02, 2024

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Which statement is true?

A) The finance department has an oversight responsibility for the effective management of the money other departments spend.
B) The Vice President of Finance is usually a position very different from that of a CFO.
C) The finance department will oversee the selling of stock, but not the paying of dividends.
D) Individual departments determine the feasibility of projects, while the finance department is only concerned with the funding of the project.

Finance Department

A division within a company that handles financial operations, planning, and strategies including accounting, budgeting, and investments.

Oversight Responsibility

The duty to oversee and ensure proper management and adherence to laws, regulations, and standards within an organization or system.

Money Management

The process of budgeting, saving, investing, spending, or otherwise overseeing an individual or group's capital usage.

  • Recognize the obligations and functions of the finance division in a company.
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Kwabenah BuxtonMay 06, 2024
Final Answer :
A
Explanation :
The finance department has a responsibility for overseeing and managing the money that other departments spend to ensure that funds are used effectively and efficiently. This oversight responsibility includes monitoring expenditures and providing financial guidance to other departments. The finance department also plays a role in assessing the financial risks and opportunities associated with different projects and initiatives.

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