A distinguishing mark of the accountancy profession is its acceptance of the responsibility to act in the _________________Select one:a.senior management's behalfb.government interestc.public interestd.management's behalf

A __________ manages a property or the financial affairs of someone else.a.caretakenb.Agentc.Stewardd.manager

The custodian of an asset shouldSelect answer from the options belowbe a person from an outside firm.not be in the same department of that asset.be a professional accountant.   not be responsible for the accounting records for that asset.

The custodian of a company asset shouldGroup of answer choicesnot have access to the accounting records for that asset.have access to the accounting records for that asset.be an accountant.be someone outside the company.

A responsibility accounting system recognizes that control over costs and expenses belong to:Multiple choice question.the board of directorslower level managementseveral levels of managementupper level management

Asset, liability and owner’s equity accounts are:Group of answer choicespermanent accountstemporary accountsshort-term accountslong-term accounts