Question

The ________ is primarily responsible for management accounting and financial accounting.

A) COO (Chief Operating Officer)
B) CIO (Chief Information Officer)
C) treasurer
D) controller

Answer 1

The controller, equivalent to a comptroller in governmental roles, is responsible for management and financial accounting in an organization.

Step-by-step explanation:

The individual who is primarily responsible for management accounting and financial accounting within an organization is known as the controller. This role, often equivalent to a comptroller in governmental contexts, is crucial for overseeing the accounting operations of a company or state. While the comptroller of public accounts serves as the chief accounting officer for the state and has responsibilities that include maintaining accounting records, collecting taxes, and reporting financial information, in a corporate setting, the controller takes on a similar role, overseeing the preparation of financial reports, managing the budget process, and ensuring that accounting procedures conform to regulatory requirements.