{"id":18224,"date":"2024-04-15T05:23:30","date_gmt":"2024-04-15T05:23:30","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=18224"},"modified":"2024-04-15T05:23:30","modified_gmt":"2024-04-15T05:23:30","slug":"the-prime-concern-of-financial-control-is-a-accounting-for-the-liabilities-incurred-b-meeting-payroll-commitments-c-providing-financial-status-information-d-all-of-the-above-e-none-of-the-above","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/the-prime-concern-of-financial-control-is-a-accounting-for-the-liabilities-incurred-b-meeting-payroll-commitments-c-providing-financial-status-information-d-all-of-the-above-e-none-of-the-above\/","title":{"rendered":"The prime concern of financial control is A. accounting for the liabilities incurred B. meeting payroll commitments C. providing financial status information D. All of the above E. None of the above"},"content":{"rendered":"<p>\r\n    <!-- Check if it's an AMP page -->\r\n            <!-- Non-AMP version -->\r\n        <div class=\"mcq-container\" data-quiz-id=\"quizState_6a9f805c82646\">\r\n                                            <div class=\"option\" data-option-key=\"option1\" data-is-correct=\"false\">\r\n                    accounting for the liabilities incurred                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option2\" data-is-correct=\"false\">\r\n                    meeting payroll commitments                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option3\" data-is-correct=\"false\">\r\n                    providing financial status information                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option4\" data-is-correct=\"true\">\r\n                    All of the above E. None of the above                <\/div>\r\n                            \r\n            <!-- Feedback messages for non-AMP -->\r\n            <div class=\"feedback\" data-feedback=\"wrong\">Answer is Right!<\/div>\r\n            <div class=\"feedback\" data-feedback=\"right\">Answer is Wrong!<\/div>\r\n        <\/div>\r\n\r\n        <script>\r\n        document.addEventListener('DOMContentLoaded', function () {\r\n            var containers = document.querySelectorAll('.mcq-container');\r\n\r\n            containers.forEach(function(container) {\r\n                var options = container.querySelectorAll('.option');\r\n                var feedbackSelect = container.querySelector('[data-feedback=\"select\"]');\r\n                var feedbackWrong = container.querySelector('[data-feedback=\"wrong\"]');\r\n                var feedbackRight = container.querySelector('[data-feedback=\"right\"]');\r\n\r\n                options.forEach(function(option) {\r\n                    option.addEventListener('click', function() {\r\n                        var selectedOption = option.getAttribute('data-option-key');\r\n                        var isCorrect = option.getAttribute('data-is-correct') === 'true';\r\n\r\n                        \/\/ Remove previous selections\r\n                        options.forEach(function(opt) {\r\n                            opt.classList.remove('correct', 'incorrect');\r\n                        });\r\n\r\n                        \/\/ Add the correct\/incorrect class\r\n                        if (isCorrect) {\r\n                            option.classList.add('correct');\r\n                            feedbackRight.hidden = false;\r\n                            feedbackWrong.hidden = true;\r\n                        } else {\r\n                            option.classList.add('incorrect');\r\n                            feedbackRight.hidden = true;\r\n                            feedbackWrong.hidden = false;\r\n                        }\r\n\r\n                        \/\/ Hide select feedback\r\n                        feedbackSelect.hidden = true;\r\n                    });\r\n                });\r\n            });\r\n        });\r\n        <\/script>\r\n    \r\n    <!--more--><\/p>\n<p>The correct answer is: <strong>D. All of the above<\/strong><\/p>\n<p>Financial control is a process that ensures that an organization&#8217;s financial resources are used effectively and efficiently. It involves setting financial goals, developing plans to achieve those goals, and monitoring performance to ensure that the goals are met.<\/p>\n<p>Accounting for the liabilities incurred is an important part of financial control. This involves tracking the organization&#8217;s debts and making sure that they are paid on time. Meeting payroll commitments is also important, as employees need to be paid on time in order to be motivated and productive. Providing financial status information is another important aspect of financial control. This information can be used to track the organization&#8217;s financial performance, identify areas where improvements are needed, and make decisions about future investments.<\/p>\n<p>In conclusion, the prime concern of financial control is to ensure that an organization&#8217;s financial resources are used effectively and efficiently. This involves setting financial goals, developing plans to achieve those goals, and monitoring performance to ensure that the goals are met. Accounting for the liabilities incurred, meeting payroll commitments, and providing financial status information are all important aspects of financial control.<\/p>\n<p>Here is a brief explanation of each option:<\/p>\n<ul>\n<li>Option A: Accounting for the liabilities incurred is an important part of financial control. This involves tracking the organization&#8217;s debts <div class=\"telegram-channel-container\">\r\n        <a href=\"https:\/\/t.me\/pscnotes2025\" target=\"_blank\" class=\"telegram-channel-button\">\r\n            <span class=\"telegram-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 496 512\">\r\n                    <path fill=\"white\" d=\"M248,8C111,8,0,119,0,256s111,248,248,248s248-111,248-248S385,8,248,8z M362,177L320,367c-3,14-10,18-20,14l-56-41l-27,26 c-3,3-5,5-10,5l4-63L323,196c5-5-1-7-8-3l-98,62l-42-13c-9-3-10-9,2-14l162-63C351,160,365,164,362,177z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Join Our Telegram Channel\r\n        <\/a>\r\n    <\/div> and making sure that they are paid on time. If the <div class=\"youtube-subscribe-container\">\r\n        <a href=\"https:\/\/www.youtube.com\/channel\/UCNHT8lW-JmLC68rjBfZhdkg?sub_confirmation=1\" target=\"_blank\" class=\"youtube-subscribe-button\">\r\n            <span class=\"youtube-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 576 512\">\r\n                    <path d=\"M549.7 124.1c-6.3-23.7-24.8-42.3-48.3-48.6C458.8 64 288 64 288 64S117.2 64 74.6 75.5c-23.5 6.3-42 24.9-48.3 48.6-11.4 42.9-11.4 132.3-11.4 132.3s0 89.4 11.4 132.3c6.3 23.7 24.8 41.5 48.3 47.8C117.2 448 288 448 288 448s170.8 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Subscribe on YouTube\r\n        <\/a>\r\n    <\/div> organization does not pay its debts on time, it could face financial penalties or even bankruptcy.<\/li>\n<li>Option B: Meeting payroll commitments is also important, as employees need to be paid on time in order to be motivated and productive. If employees are not paid on time, they may become disgruntled and less productive. They may also leave the organization, which can lead to a loss of knowledge and experience.<\/li>\n<li>Option C: Providing financial status information is another important aspect of financial control. This information can be used to track the organization&#8217;s financial performance, identify areas where improvements are needed, and make decisions about future investments. If the organization does not have accurate financial information, it will be difficult to make sound financial decisions.<\/li>\n<\/ul>\n<p>I hope this helps!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Join Our Telegram Channel Subscribe on YouTube<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[678],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The prime concern of financial control is A. accounting for the liabilities incurred B. meeting payroll commitments C. providing financial status information D. All of the above E. None of the above<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/the-prime-concern-of-financial-control-is-a-accounting-for-the-liabilities-incurred-b-meeting-payroll-commitments-c-providing-financial-status-information-d-all-of-the-above-e-none-of-the-above\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The prime concern of financial control is A. accounting for the liabilities incurred B. meeting payroll commitments C. providing financial status information D. All of the above E. None of the above\" \/>\n<meta property=\"og:description\" content=\"Join Our Telegram Channel Subscribe on YouTube\" \/>\n<meta property=\"og:url\" content=\"https:\/\/exam.pscnotes.com\/mcq\/the-prime-concern-of-financial-control-is-a-accounting-for-the-liabilities-incurred-b-meeting-payroll-commitments-c-providing-financial-status-information-d-all-of-the-above-e-none-of-the-above\/\" \/>\n<meta property=\"og:site_name\" content=\"MCQ and Quiz for Exams\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-15T05:23:30+00:00\" \/>\n<meta name=\"author\" content=\"rawan239\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"rawan239\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"The prime concern of financial control is A. accounting for the liabilities incurred B. meeting payroll commitments C. providing financial status information D. All of the above E. None of the above","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/exam.pscnotes.com\/mcq\/the-prime-concern-of-financial-control-is-a-accounting-for-the-liabilities-incurred-b-meeting-payroll-commitments-c-providing-financial-status-information-d-all-of-the-above-e-none-of-the-above\/","og_locale":"en_US","og_type":"article","og_title":"The prime concern of financial control is A. accounting for the liabilities incurred B. meeting payroll commitments C. providing financial status information D. All of the above E. None of the above","og_description":"Join Our Telegram Channel Subscribe on YouTube","og_url":"https:\/\/exam.pscnotes.com\/mcq\/the-prime-concern-of-financial-control-is-a-accounting-for-the-liabilities-incurred-b-meeting-payroll-commitments-c-providing-financial-status-information-d-all-of-the-above-e-none-of-the-above\/","og_site_name":"MCQ and Quiz for Exams","article_published_time":"2024-04-15T05:23:30+00:00","author":"rawan239","twitter_card":"summary_large_image","twitter_misc":{"Written by":"rawan239","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/exam.pscnotes.com\/mcq\/the-prime-concern-of-financial-control-is-a-accounting-for-the-liabilities-incurred-b-meeting-payroll-commitments-c-providing-financial-status-information-d-all-of-the-above-e-none-of-the-above\/","url":"https:\/\/exam.pscnotes.com\/mcq\/the-prime-concern-of-financial-control-is-a-accounting-for-the-liabilities-incurred-b-meeting-payroll-commitments-c-providing-financial-status-information-d-all-of-the-above-e-none-of-the-above\/","name":"The prime concern of financial control is A. accounting for the liabilities incurred B. meeting payroll commitments C. providing financial status information D. All of the above E. None of the above","isPartOf":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/#website"},"datePublished":"2024-04-15T05:23:30+00:00","dateModified":"2024-04-15T05:23:30+00:00","author":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/5807dafeb27d2ec82344d6cbd6c3d209"},"breadcrumb":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/the-prime-concern-of-financial-control-is-a-accounting-for-the-liabilities-incurred-b-meeting-payroll-commitments-c-providing-financial-status-information-d-all-of-the-above-e-none-of-the-above\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/exam.pscnotes.com\/mcq\/the-prime-concern-of-financial-control-is-a-accounting-for-the-liabilities-incurred-b-meeting-payroll-commitments-c-providing-financial-status-information-d-all-of-the-above-e-none-of-the-above\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/exam.pscnotes.com\/mcq\/the-prime-concern-of-financial-control-is-a-accounting-for-the-liabilities-incurred-b-meeting-payroll-commitments-c-providing-financial-status-information-d-all-of-the-above-e-none-of-the-above\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/exam.pscnotes.com\/mcq\/"},{"@type":"ListItem","position":2,"name":"mcq","item":"https:\/\/exam.pscnotes.com\/mcq\/category\/mcq\/"},{"@type":"ListItem","position":3,"name":"Management information systems","item":"https:\/\/exam.pscnotes.com\/mcq\/category\/mcq\/management-information-systems\/"},{"@type":"ListItem","position":4,"name":"The prime concern of financial control is A. accounting for the liabilities incurred B. meeting payroll commitments C. providing financial status information D. All of the above E. None of the above"}]},{"@type":"WebSite","@id":"https:\/\/exam.pscnotes.com\/mcq\/#website","url":"https:\/\/exam.pscnotes.com\/mcq\/","name":"MCQ and Quiz for Exams","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/exam.pscnotes.com\/mcq\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/5807dafeb27d2ec82344d6cbd6c3d209","name":"rawan239","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/d97f17072bfa490596c8f78363955d55?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/d97f17072bfa490596c8f78363955d55?s=96&d=mm&r=g","caption":"rawan239"},"sameAs":["https:\/\/exam.pscnotes.com"],"url":"https:\/\/exam.pscnotes.com\/mcq\/author\/rawan239\/"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/posts\/18224"}],"collection":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/comments?post=18224"}],"version-history":[{"count":0,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/posts\/18224\/revisions"}],"wp:attachment":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/media?parent=18224"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/categories?post=18224"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/tags?post=18224"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}