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10 October, 10:53

The new employee at Cork Manufacturing reported tp work and the employee reviewed the following information that was audited by the CPA:

Cork Manufacturing

Consolidated Balance Sheet Worksheet

December 31, 20XX

Assets Total:

Cash ... $600,000

Notes receivable ... $750,000

Investment company A ... $800,000

Other assets ... $900,000

Total assets ... $3,050,000

Liabilities and Equities

Accounts payable ... $25,000

Notes payable ... $100,000

Common stock ... $1,000,000

Retained earnings ... $1,925,000

Total liabilities and equities ... $3,050,000

Note to Accountant: This statement was prepared in accordance to GAAP

Which of the following described the role of the new employee

a) Managerial accountant

b) Financial accountant

c) CEO

d) Manager-financial analysis

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Answers (1)
  1. 10 October, 11:08
    0
    The correct answer is D

    Explanation:

    In this case, the new employee who reported to work, was given the responsibility to perform the review of the information on the balance sheet which was audited by the CPA.

    So, here the role of new employee is described as the manager - financial analysis, who is responsible for the financial health of the organization or business, reviewing the financial data as well.
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