Who are most likely to be involved in preparing interim financial reports:

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BlackTom AI · Accepted Answer

When considering who typically gets involved in preparing interim financial reports, it helps to map roles to common accounting and governance processes.
Option 1: 'Bookkeeper, Board, Intern' includes the bookkeeper and the board, but omits an accountant and managers. Interns are generally not responsible for preparing formal interim reports, so this combination misses key financial and managerial players.
Option 2: 'Bookkeeper, Accountant, Managers, Board' covers the main tiers: the bookkeeper records day-to-day transactions, the accountant supports compiling and analyzing numbers, managers provide the financial information and oversight, and the board participates in governance and approval of interim reports. This set aligns with typical practice where both accounting staff and management/board oversight are involved.
Option 3: 'Intern, contractor, Board' introduces an intern and a contractor, who are not standard primary preparers of interim financial reports. While they might assist in limited tasks, they do not constitute the core preparers likely to be involved in producing formal interim reports.
Option 4: 'Manager, Board' omits the essential bookkeeping and accounting roles. Managers and the board oversee and approve, but without the bookkeeper and accountant, the actual preparation and accuracy of financial statements would be incomplete.
In summary, the most comprehensive and accurate option is the one that includes both the accounting function (bookkeeper and accountant) and the governance/oversight roles (managers and board), reflecting typical interim reporting processes.

VPAB13H3 F LEC01 Final Exam Quiz

Who are most likely to be involved in preparing interim financial reports:

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