Skip to content

ACCA Applied Knowledge · Business and Technology · The relationship between accounting and other business functions

Which of the following is the most accurate description of the main purpose of the finance function within a business?

The finance function's main purpose is to plan, record, control and report on the organisation's financial resources and performance. This supports decision-making by managers and external stakeholders. Recruitment, marketing and IT maintenance are the responsibilities of other business functions, not finance.

  1. ATo manage the recruitment and training of all employees
  2. BTo plan, record, control and report on the organisation's financial resources and performanceCorrect
  3. CTo design and promote the organisation's products to customers
  4. DTo maintain the organisation's computer hardware and networks

Explanation

The finance function exists to plan, record, control and report on financial resources so that management and external parties can make decisions. Recruitment is human resources, product promotion is marketing, and hardware maintenance is IT.

Did you get it right without looking?

One question tells you little. A timed set on The relationship between accounting and other business functions shows your real accuracy, how long you take and where you lose marks.

Practise The relationship between accounting and other business functionsFree diagnostic mock

More The relationship between accounting and other business functions questions