The overall responsibility for the accounting information contained in the financial statements of a business organization rests with the_______.

Financial Controller

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Auditor

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Managing Director

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Board of Directors

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Solution

The correct option is B Board of Directors
A company whose capital is contributed by a large number of persons called shareholders who are the real owners of the company. But neither it is possible for all of them to participate in the management of the company nor considered desirable. Therefore, they elect a Board of Directors as their representative to manage the affairs of the company.

Thus, overall responsibility for the accounting information contained in the financial statements of a business organisation rests with the Board of Directors.

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