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Principles of Accounting, Volume 2: Managerial Accounting

Multiple Choice

Principles of Accounting, Volume 2: Managerial AccountingMultiple Choice
1.

LO 13.1Which agreement did 196 nations adopt in December 2015?

  1. Oslo Accord
  2. Paris Climate Agreement
  3. Kyoto Agreement
  4. Copenhagen Accord
2.

LO 13.1The 2015 Paris Agreement on Climate Change aimed to limit the increase of global temperatures to ________.

  1. 0.5 °C
  2. 1.0 °C
  3. 1.5 °C
  4. 2.0 °C
3.

LO 13.1Good corporate citizenship ________.

  1. is expensive to implement and does not guarantee returns
  2. must have management’s sincere convictions behind it in order to succeed
  3. is more relevant in countries with less regulation.
  4. makes good business sense
4.

LO 13.1According to the World Commission on Environment and Development, how is sustainable development defined?

  1. It meets the needs of the future without compromising the ability of the present generations to meet their own needs.
  2. It applies the fairness doctrine that no generation, present or future, will be disadvantaged in their ability to meet their own needs.
  3. It meets the needs of the present without compromising the ability of future generations to meet their own needs.
  4. none of the above
5.

LO 13.1Sustainability reporting can incorporate which of the following?

  1. environmental reporting
  2. social reporting
  3. business viability reporting
  4. all of the above
6.

LO 13.1What caused Union Carbide’s deadly gas leak in Bhopal, India, which killed 3,000 and injured 42,000?

  1. a combination of low staff levels, corruption, pay-offs to employees to keep quiet, and the manager going on vacation the day before the leak
  2. diversion of funds and resources to a Northern India project that also took staff from the Bhopal plant, plus many safety issues, including fines imposed on community members who camped too close to the plant
  3. employees’ deciding to have lunch before dealing with the pressure buildup inside the tank and bribes paid to the government employees who inspected the plant
  4. a combination of low staff levels, numerous safety issues, and a lack of immediate employee attention to the problem as pressure built up inside the tank
7.

LO 13.1Nestlé’s reputation was damaged when the company was accused of which of the following?

  1. forcing mothers to buy baby formula within days of delivering their babies
  2. promoting inadequate nutrition in developing countries
  3. providing cheap formula to mothers in developing countries, but more expensive to mothers in developed countries
  4. selling poor quality bottled water to developing countries
8.

LO 13.1Which form of energy is renewable?

  1. solar
  2. oil
  3. coal
  4. nuclear
9.

LO 13.1Which of the following types of reporting does the Triple Bottom Line not incorporate?

  1. management
  2. social
  3. environmental
  4. economic
10.

LO 13.2Which of the following best defines stakeholders?

  1. investors and lenders
  2. environmental groups
  3. anyone directly or indirectly affected by the organization
  4. groups or individuals financially impacted by the organization
11.

LO 13.2Which of the following statements is most often the case?

  1. Socially responsible businesses tend to post higher profits than those not focused on social responsibility.
  2. Companies that are not socially responsible will have better profits, but have a moral obligation to society.
  3. Socially responsible investing gives poorer returns than non-socially responsible investing.
  4. Investors are more short termed focus and so socially responsible investing should not be a factor in their investment portfolio.
12.

LO 13.3Which standards are considered universal under the GRI?

  1. economic, environmental, social
  2. foundation, general disclosures, management approach
  3. foundation, economic, general disclosures
  4. management approach, economic, social
13.

LO 13.3The SASB view on materiality has been adapted from which of the following?

  1. the U.S. Executive branch
  2. the GRI definition
  3. a determination by U.S. Congress
  4. the U.S. Supreme Court
14.

LO 13.3The fundamental tenets of SASB’s Approach are considered ________.

  1. evidence-based, industry-specific, and market-informed
  2. industry-specific, interest-based, and value creating
  3. consensus-based, industry-specific, and actionable
  4. interest-based, value creating, and market-informed
15.

LO 13.3How many broad categories of capital are identified by the Integrated Reporting Framework?

  1. 2
  2. 4
  3. 6
  4. 8
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