Principles of Accounting Volume 2
19th Edition
ISBN: 9781947172609
Author: OpenStax
Publisher: OpenStax College
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Textbook Question
Chapter 1, Problem 24MC
A company’s attempts to utilize sustainable business practices with regard to its employees, the environment, and society are known as ______________________.
- a balanced scorecard
- corporate social responsibility
- total quality management
- value chain
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A company’s attempts to utilize sustainable business practices with regard to its employees, the environment, and society are known as ________.
Select one:
a.
corporate social responsibility
b.
value chain
c.
total quality management
d.
a balanced scorecard
Give true solution for general accounting question
Suppose you are tasked to construct and evaluate complex financial statements, including those relating to group accounts, to show an organization's financial position and performance. How do SASB standards relate to your task? What is the purpose of sustainability accounting and disclosure? Why are SASB standards needed in the business world?
Chapter 1 Solutions
Principles of Accounting Volume 2
Ch. 1 - The managers of an organization are responsible...Ch. 1 - Management accountants help the management of an...Ch. 1 - Which of the following is a primary aspect of the...Ch. 1 - During the control function, the measurements...Ch. 1 - Which of the following is false regarding...Ch. 1 - Managerial accounting produces information: to...Ch. 1 - Management accounting: emphasizes special-purpose...Ch. 1 - Internal users of accounting information would not...Ch. 1 - External users of accounting information would...Ch. 1 - Which of the following statements is incorrect?...
Ch. 1 - The stockholders of a company are: the owners...Ch. 1 - The controller of a corporation: reports to the...Ch. 1 - The Certified Financial Analyst (CFA)...Ch. 1 - The Certified Management Accountant (CMA)...Ch. 1 - Which of the following terms means the ability to...Ch. 1 - Which of the following terms means knowing how a...Ch. 1 - What is the law that protects investors from...Ch. 1 - What year was the Sarbanes-Oxley Act enacted? 2007...Ch. 1 - When a representative of an organization gives...Ch. 1 - The law that specifically prohibits payments to...Ch. 1 - Which of the following is not a step in the...Ch. 1 - Which of the following is not an objective used in...Ch. 1 - Which of the following is not true regarding...Ch. 1 - A companys attempts to utilize sustainable...Ch. 1 - A process that is often linked to Six Sigma and is...Ch. 1 - An inventory system that organizations use to...Ch. 1 - A quality control program that depends on multiple...Ch. 1 - Carlita believes an important part of the planning...Ch. 1 - What are some activities and tasks a manager might...Ch. 1 - If there are deviations from the stated goals and...Ch. 1 - Explain how managerial accountants help managers...Ch. 1 - How do the subject matter of reports and the...Ch. 1 - What is the purpose of management accounting?Ch. 1 - Who are the primary users of the information...Ch. 1 - What are the key differences between financial...Ch. 1 - Other than accounting skills, what six qualities...Ch. 1 - Explain how having more than one of the accounting...Ch. 1 - Briefly discuss the chain of command for someone...Ch. 1 - According to the information available at...Ch. 1 - According to the information on management...Ch. 1 - What other professional business organizations...Ch. 1 - How can having a bonus system based purely on...Ch. 1 - What led to the United States Congress passing the...Ch. 1 - What is an enterprise resource planning (ERP)...Ch. 1 - Describe what is meant by the term balanced in the...Ch. 1 - What is corporate social responsibility, and who...Ch. 1 - Indicate whether each statement describes...Ch. 1 - Identify the following as True or False:...Ch. 1 - Define each of these users of accounting...Ch. 1 - Discuss what information would be most useful for...Ch. 1 - Taylor Speedy has prepared the following list of...Ch. 1 - Match the term with the description:Ch. 1 - After the passage of the Sarbanes-Oxley Act in...Ch. 1 - Indicate whether each of the following statements...Ch. 1 - Match each lean business method to the best...Ch. 1 - For each of the activities listed, choose the...Ch. 1 - Look up the definitions for the following terms:...Ch. 1 - Indicate whether the statement describes reporting...Ch. 1 - Identify the following as true or false: Financial...Ch. 1 - Companies need to report both monetary and...Ch. 1 - Marvin has been thinking about the fields of...Ch. 1 - Match the term with the description.Ch. 1 - The Foreign Corrupt Practices Act (FC PA) was...Ch. 1 - Indicate whether each of the following statements...Ch. 1 - Table 1.3 shows how different areas within the...Ch. 1 - There are individuals who are under the impression...Ch. 1 - Think about the organization chart in Figure 1.7....Ch. 1 - Controversy tends to surround the topic of...
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Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- Explain how performance measurement can help improve an organization's business sustainability efforts.arrow_forwardIn which areas of an organizations value chain can important business sustainability risks or opportunities arise? I. Research Development II. Customer Service III. Manufacturing IV. Warehousing Distribution a. I only b. II only c. III only d. II and IV e. I, II, III, and IVarrow_forwardThe balanced scorecard provides an action plan for achieving competitive success by focusing management attention on critical success factors. Which of the following is not one of the competitive success factors commonly found on the balanced scorecard? a. Competitor business strategies b. Financial performance measures c. Internal business processes d. Learning and growtharrow_forward
- Beginning with strategy, which of the following items lists the areas of the business sustainability cycle in the correct order in which they should be performed? (Note: Not all areas are contained in each list.) a. Sustainability assurance, sustainability reporting, risk management, performance measurement b. Performance measurement, risk management, sustainability reporting, stakeholder engagement c. Stakeholder engagement, risk management, sustainability assurance, performance measurement d. Risk management, stakeholder engagement, sustainability reporting, sustainability assurance e. Stakeholder engagement, risk management, performance measurement, sustainability reportingarrow_forwardComponents of the organization that are demotivating for purposes of performance management are known as ______. A. business goals B. strategic plans C. uncontrollable factors D. incentivesarrow_forwardAn important goal of a responsibility accounting framework is to help ensure which of the following? A. decision-making is made by the top executives. B. investments made by each segment are minimized. C. identification of operating segments that should be closed. D. segment and company financial goals are congruent.arrow_forward
- 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 performancearrow_forwardin the context of principled performance, what does it mean for an organization to "act with integrity"? a. it means complying with all industry standards and best practices b. it means achieving the highest possible financial returns for shareholders c. it means living out organizational values and staying within both mandatory and voluntary boundaries d.it means maintaining a strong public image and a positive brand reputation what is the role of a values statement in an organization? a. a values statement is a marketing tool used to attract new customers and investors to the orgnaization b. a values statement is a legal document that outlines the financial obligations and liabilities of the organization that contribute to its value c a values statement reflects the shared beliefs and expectations of the organization's leadership,employees ,and stakeholders and serves as a guide for establishing a postiive and productive organizational culture d a values statement is a formal…arrow_forwardEmployee Security, High Wages and Promotion from within are best practices within: Question 5Answer a. Building Competitive Advantage through People b. Leadership Strategy c. Staffing the Organization d. Strategic Managementarrow_forward
- The likelihood that managers may place personal goals ahead of corporate goals is called an: a. agency problem b. stakeholder adversity c. strategic advantage d. opportunity costarrow_forwardQuestion 1: How does Ethical reasoning affect both professional judgment and individual judgment and behavior in the accounting context? Question 2: Sustainability requires a rethinking of, economic systems and business models. Discuss and provide an example for both an economic system and business model. Question 3: Discuss the concepts of accountability, legitimacy and sustainability and the links between these concepts. How do these concepts affect the way accountability relationships are formed and the concept of stakeholders? Question 4: Sustainability standards and frameworks are diverse, political and serve different purposes, Discuss. How do these standards and reports prioritize certain stakeholders and interest groups while neglecting others? Question 5: Discuss the critical role of external accounting in enhancing accountability relationships. How can these external accounts highlight the social…arrow_forwardUnderstanding today’s business environmentMatch the following terms to the appropriate statement. Some terms may be used more than once, and some terms may not be used at all. a. A management system that focuses on maintaining lean inventories while producing products as needed by the customer. b. A philosophy designed to integrate all organizational areas in order to provide customers with superior products and services while meeting organizational objectives. c. Integrates all of a company’s functions, departments, and data into a single system. d. Adopted by firms to conduct business on the Internet.arrow_forward
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