Which option is accurate for the Question? Which perspective best explains social impact accounting?a) Business success measured through community benefitsb) Profits remain the only considerationc) Social factors hold no importanced) Financial metrics stand alone

Explanation of Social Impact Accounting: This is a comprehensive accounting framework that measures…

Answered: Which perspective best explains social…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter9: Responsibility Accounting And Decentralization

Section: Chapter Questions

Problem 1MC: Which of the following is nor a common goal of an organization? A. operational efficiency B. being...

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The Multi-Dimensional Statements Approach of Social Accounting was proposed to extend financial statements into multi-dimensional statements with all events related to each other via a monetary measure of their resource costs and benefits. But this approach suffers with which of the following hindrance? a. The multidimensional nature creates problems in measurement and quantification. b. The multidimensional approach of social accounting fails to measure the social impact in quantitative terms. c. The multidimensional approach maximizes the profit within the constraints of existing legal and ethical framework acting in the best interest of the society d. The multidimensional approach mixes with the assets and liabilities of the regular accounting and therefore shows wrong financial position of an entity
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Explain the political cost hypothesis of Positive Accounting Theory.
Which of the following is considered a constraint on useful information by Statement of Financial Accounting Concepts No. 8? a. benefits costs b. conservatism c. timeliness d. verifiability
Which of the following is not true? A. Organizations share a common purpose or mission. B. Organizations have inflows and outflows of resources. C. Organizations add value to society. D. Organizations need accounting information.
Which of the following is nor a common goal of an organization? A. operational efficiency B. being acquired by another business C. achieving strategic goals D. measuring financial performance
Which of the following is not represented in the balancedscorecard?a. A learning and growth perspective.b. The internal business process perspective.c. The government’s perspective.d. The customers’ perspective.e. The financial perspective.
Explain clearly
Which of the following is not a function of Financial Manager a. Investment Decision b. Planning Financial Requirements c. Acquiring necessary capital d. None
explain how the idea of value creation under stakeholder theory differs from that under positive accounting theory.
Which is not a function of a financial system? a.Pool capital from savers b.Help in managing uncertain events c.Serves as a platforms that transfer resources d.Reviews financial ratings of savers

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Which perspective best explains social impact accounting? a) Business success measured through community benefits b) Profits remain the only consideration c) Social factors hold no importance d) Financial metrics stand alone