Which of the following statements is CORRECT?O a. The CFO generally reports to the firm's chief accounting officer, who is normally the controller.O b. By law in most companies, the chairman of the board must also be the CEO.O c. The CFO is responsible for raising capital and for making sure that capital expenditures aredesirable, but he or she is not responsible for the validity of the financial statements, as thecontroller and the auditors have that responsibility.O d. The board of directors is the highest ranking body in a corporation, and the chairman of theboard is the highest ranking individual. The CEO generally works under the board and itschairman, and the board generally has the authority to remove the CEO under certainconditions. The CEO, however, cannot remove the board, but he or she can endeavor to havethe board voted out and a new board voted in should a conflict arise. It is possible for a personto simultaneously serve as CEO and chairman of the board, though many corporate controlexperts believe it is bad to vest both offices in the same person.e. In most corporations, the CFO ranks above the CEO.

CFO refers to the Chief Financial Officer and CEO refers to the Chief Executive Officer.

Answered: Which of the following statements is…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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