Final answer:
The treasury function is most commonly associated with the security of funds and maintaining accounting records.
Step-by-step explanation:
The most commonly associated function with the treasury is security of funds. The treasury function is responsible for managing and safeguarding an organization's cash and financial assets. This involves implementing controls to protect against fraud and ensuring that funds are securely held in bank accounts or invested in low-risk instruments. By focusing on the security of funds, the treasury function helps minimize the risk of financial loss for the organization.
Additionally, the treasury function is involved in maintaining accounting records, as it oversees the cash management activities, monitors cash flows, and keeps track of financial transactions. While recording of event data and reporting of results of business events are important functions in accounting, they are not specifically associated with the treasury function.