Which business function is responsible for maintaining financial records?

The business function that is responsible for maintaining financial records is accounting. This function involves systematically recording, measuring, and communicating financial information about a business or organization. Accountants are responsible for ensuring that all financial transactions are accurately documented in accordance with established standards and regulatory requirements.

Accounting encompasses various activities, such as bookkeeping, preparing financial statements, managing payroll, and conducting audits, which all contribute to providing a clear picture of a company's financial health. This foundational recording of financial data is critical for internal decision-making, compliance with tax regulations, and reporting to stakeholders.

While finance, sales, and marketing all play important roles within an organization, they focus on different aspects of business operations. Finance tends to deal with the management of assets, investments, and financial planning rather than the day-to-day recording of financial transactions. Sales is concerned with generating revenue through selling products or services, and marketing focuses on promoting and positioning those products or services to consumers.