17 Statement I: A company is accountable to the society since it makes use of community-owned resources and other infrastructural facilities and enjoys concessions provided by state from tax-payers money.Statement II: The best way of social responsibility reporting is to prepare a value-added statement, which shows the income earned by all the stakeholders (staff, community & public) a. Both the statement are true b. Both the statements are false c. Only Statement I is true d. Only statement II is true

17 Statement I: A company is accountable to the society since it makes use of community-owned resources and other infrastructural facilities and enjoys concessions provided by state from tax-payers money.Statement II: The best way of social responsibility reporting is to prepare a value-added statement, which shows the income earned by all the stakeholders (staff, community & public) a. Both the statement are true b. Both the statements are false c. Only Statement I is true d. Only statement II is true

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter1: Role Of Accounting In Society

Section: Chapter Questions

Problem 9MC: A governmental agency can best be described by which of the following statements? A. has a primary...

See similar textbooks

Similar questions

aims to identify, record, and communicate information about business activities. It helps assess opportunities, products, investments, and social and community responsibilities. Users of accounting are both internal and external. Some users and uses of accounting include (a) managers in controlling, monitoring, and planning; (b) lenders for measuring the risk and return of loans; (c) shareholders for assessing the return and risk of stock; and (d) employees for judging employment opportunities. Opportunities in accounting include financial, managerial, and tax accounting. Csuterstack/Fory burrow OGlow Asia/Saperstock 130s :00/ 0:58 1x CC Knowledge Check 01 Match the term and the definition. Definition The recording of transactions and events only, either manually or electronically. An information and measurement system that identifies, records, and communicates relevant, reliable, and comparable information about an organization's business activities.
Explain how performance might be measured in Non-profit making Organisations. 1b. Explain the objective of the value for money and his application to a Non-profit making Organisation.
Which one of the following activities of a company is NOT considered as corporate social responsibility activity? O a. The company reinvested its profit in profitable programs. O b. The company reinvested its profit in safety programs. OC. The company reinvested its profit in environmental programs. O d. The company reinvested its profit in community programs.
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.
Question One Management accounting in profit seeking organizations may be different from that which could apply in non-profit seeking organisations. Required: -Contrast the main features of non-profit-seeking organizations with one that is profitseeking which makes management accounting in this environment different. - Discuss how management accountant may respond to the challenge of providing appropriate information in a non-profit-seeking organization.
There is .... relationship between conservatism as accounting value and individualism as a culture value Select one: O a. No O b. Direct O c. Inverse
Instructions: Designate the best answer for each of the following questions. 1.Which of the following is a responsibility center that incurs expenses, generates revenues, and is responsible for generating a return on assets? a. Cost center b. Revenue center c. Profit center d. Investment center 2.Which one of the following is the most useful measure for evaluating a manager's performance in controlling revenues and costs in a profit center? a. Contribution margin b. Contribution net income c. Contribution gross profit d. Controllable margin 3.Hanover Corporation desires to earn target net income of $42,000. The selling price per unit is $18, unit variable cost is $5.60, and total fixed costs are $123,912. How many units must the company sell to earn its target net income? a. 13,380 b. 9,993 c. 3,387 d. 9,217 4.Remark…
What social responsibility is fulfilled by a business organization which is trying to reduce national problems like corruption and unemployment? O a. Responsibility to protect the environment O b. Responsibility to fulfill duties and national obligation O C. Responsibility to safeguard the health O d. Responsibility to make a profit
Company is Air NEW ZEALAND Explain reporting/ disclosure on social impact and discuss its importance to the chosen company and its stakeholders. PLG 1, 2, 3 Demonstrates an excellent level of knowledge and understanding of reporting/disclosure on social impact. A thorough discussion of the importance of social impact reporting/ disclosure to the chosen company and its stakeholders, supported with information from research. Specific stakeholders and their interested social impact are clearly identified and supported with appropriate examples
There is a phrase stated "THE MORE WE GIVE, THE MORE WE GAIN". Kindly explain what this phrase means based on organization's CSR responsibilities.
(Do not provide AI Content otherwise i will dislike) What is a primary focus of performance measurement in public sector accounting? a) Maximizing shareholder wealth b) Achieving profitability c) Enhancing service delivery and accountability d) Minimizing tax liabilities
Q30 Under which of the following ___________ field, one of the important function is to measure and disclose the costs and benefits to the people, where as in case of conventional accounting the main function is to measure and disclose the cost and benefits of a particular company? a. Social accounting b. Human resource accounting c. Inflation accounting d. Current cost accounting