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What characteristics should supervision controls have for FAS?

a) Autonomy and isolation
b) Centralization and bureaucracy
c) Oversight and transparency
d) Unpredictability and chaos

User Gunas
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1 Answer

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Final answer:

Supervision controls for Financial Accounting Standards should be characterized by oversight and transparency to ensure proper compliance and trust. Autonomy, isolation, unpredictability, and chaos are not associated with effective financial supervision.

Step-by-step explanation:

The question 'What characteristics should supervision controls have for Financial Accounting Standards (FAS)?' pertains to the controls and characteristics a supervisory framework should display within the context of FAS. The correct answer among the options provided is c) Oversight and transparency. These two characteristics are crucial for effective supervision in financial accounting to ensure that accounting practices are conducted according to established standards, and there is open disclosure of information to maintain trust among stakeholders. In contrast, options such as 'Autonomy and isolation' and 'Unpredictability and chaos' do not describe desirable characteristics for supervisory controls in FAS. As for the quiz question about bureaucracies, coercion to join is not a characteristic of bureaucracies, whereas a hierarchy of authority, explicit rules, and division of labor are indeed typical characteristics.

User Abhi V
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