Question 1

The 2002 Sustainability Reporting Guidelines issued by the Global Reporting Initiative identify which of these trends?

Accepted Answer

A)  expanding globalisation 
B)  rising visibility of, and expectations for, organisations 
C)  search for new forms of global governance 
D)  all of the above 
A)  expanding globalisation 
B)  rising visibility of, and expectations for, organisations 
C)  search for new forms of global governance 
D)  all of the above D

Question 2

An independent institution whose mission is to develop and disseminate globally applicable Sustainability Reporting Guidelines is:

Accepted Answer

A)  the World Bank. 
B)  the Global Reporting Initiative (GRI). 
C)  the Group of Eight. 
D)  the United Nations. 
A)  the World Bank. 
B)  the Global Reporting Initiative (GRI). 
C)  the Group of Eight. 
D)  the United Nations. B

Question 3

Meeting society's need for goods and services without destroying natural or social capital is known as:

Accepted Answer

A)  sustainable value creation. 
B)  ethical living. 
C)  greening. 
D)  none of the above. 
A)  sustainable value creation. 
B)  ethical living. 
C)  greening. 
D)  none of the above. A

Question 4

The form of the report recommended by the Global Reporting Initiative includes:

Accepted Answer

A)  a vision and strategy statement. 
B)  an organisation profile. 
C)  a description of governance structure and management systems. 
D)  all of the above. 
A)  a vision and strategy statement. 
B)  an organisation profile. 
C)  a description of governance structure and management systems. 
D)  all of the above.

Question 5

In evaluating the business perspective under the balanced scorecard approach, possible measures that could be employed are:

Accepted Answer

A)  percentage of systems automated. 
B)  percentage of production completed which meets the set standards. 
C)  production days lost. 
D)  all of the above. 
A)  percentage of systems automated. 
B)  percentage of production completed which meets the set standards. 
C)  production days lost. 
D)  all of the above.

Question 6

To maximise the effectiveness of corporate governance, an audit committee should be structured so that it:

Accepted Answer

A)  is chaired by the chair of the board. 
B)  consists of a majority of independent directors. 
C)  consists mainly of executive directors. 
D)  all of the above 
A)  is chaired by the chair of the board. 
B)  consists of a majority of independent directors. 
C)  consists mainly of executive directors. 
D)  all of the above

Question 7

In recent world studies on voluntary social responsibility reporting, it has been found that:

Accepted Answer

A)  disclosure was greatest in New Zealand. 
B)  reporting was done principally by the largest companies. 
C)  reporting was mainly of a quantitative nature. 
D)  companies tended to provide 'bad news' as well as 'good news'. 
A)  disclosure was greatest in New Zealand. 
B)  reporting was done principally by the largest companies. 
C)  reporting was mainly of a quantitative nature. 
D)  companies tended to provide 'bad news' as well as 'good news'.

Question 8

Aspects of corporate social responsibility are:

Accepted Answer

A)  impact on employment and job creation. 
B)  pollution. 
C)  health and safety. 
D)  all of the above. 
A)  impact on employment and job creation. 
B)  pollution. 
C)  health and safety. 
D)  all of the above.

Question 9

Triple bottom line reporting refers to reporting in the three areas of:

Accepted Answer

A)  economic prosperity, environmental quality, social justice. 
B)  pollution, climate, recycling. 
C)  physical resources, energy, human resources. 
D)  none of the above. 
A)  economic prosperity, environmental quality, social justice. 
B)  pollution, climate, recycling. 
C)  physical resources, energy, human resources. 
D)  none of the above.

Question 10

A 2011 KPMG survey on triple bottom line reporting found what percentage of the world's top 250 companies produced a separate corporate report with details of social and environmental performance?

Accepted Answer

A)  64% 
B)  10% 
C)  80% 
D)  28% 
A)  64% 
B)  10% 
C)  80% 
D)  28%

Question 11

Which statement concerning the balanced scorecard is not true?

Accepted Answer

A)  The Global Reporting Initiative and the balanced scorecard have much in common. 
B)  It tends to change the emphasis from production to customers. 
C)  The GBI approach is likely to shrink the role of the management accountant and expand the role of the financial accountant. 
D)  None of the above, i.e. all are true statements. 
A)  The Global Reporting Initiative and the balanced scorecard have much in common. 
B)  It tends to change the emphasis from production to customers. 
C)  The GBI approach is likely to shrink the role of the management accountant and expand the role of the financial accountant. 
D)  None of the above, i.e. all are true statements.

Question 12

Which of these is an example of an environmental disclosure in an annual report?

Accepted Answer

A)  sponsoring environmental achievement awards 
B)  implementation of tree planting schemes 
C)  introduction of environmental audits 
D)  all are examples 
A)  sponsoring environmental achievement awards 
B)  implementation of tree planting schemes 
C)  introduction of environmental audits 
D)  all are examples

Question 13

Using the Boston Consulting Group (BCG) portfolio matrix:

Accepted Answer

A)  businesses with low market growth and a low competitive position are designated as dogs. 
B)  businesses with low market growth and a low competitive position are designated as cows. 
C)  businesses with low market growth and a low competitive position are designated as question marks. 
D)  none of the above 
A)  businesses with low market growth and a low competitive position are designated as dogs. 
B)  businesses with low market growth and a low competitive position are designated as cows. 
C)  businesses with low market growth and a low competitive position are designated as question marks. 
D)  none of the above

Question 14

The system by which corporations are directed and controlled is known as:

Accepted Answer

A)  constitution. 
B)  board of directors. 
C)  corporate governance. 
D)  social responsibility. 
A)  constitution. 
B)  board of directors. 
C)  corporate governance. 
D)  social responsibility.

Question 15

The total impact of business actions on society at large is known as:

Accepted Answer

A)  economic impact. 
B)  corporate governance. 
C)  risk. 
D)  social responsibility. 
A)  economic impact. 
B)  corporate governance. 
C)  risk. 
D)  social responsibility.

Question 16

Which of these is a way in which sustainable reports should be similar to current financial reports?

Accepted Answer

A)  reliance on monetary measures 
B)  degree of auditability of reports 
C)  scope of report 
D)  comparability 
A)  reliance on monetary measures 
B)  degree of auditability of reports 
C)  scope of report 
D)  comparability

Question 17

Research has found that in Australia, environmental disclosures in annual reports tend to be:

Accepted Answer

A)  about half positive and half negative. 
B)  mostly positive in nature. 
C)  all positive. 
D)  mostly negative in nature. 
A)  about half positive and half negative. 
B)  mostly positive in nature. 
C)  all positive. 
D)  mostly negative in nature.

Question 18

Which of these is a way to encourage more socially responsible behaviour by companies?

Accepted Answer

A)  make breaches of behaviour more costly 
B)  government action such as legislation 
C)  market the 'good citizen' concept 
D)  all of the above 
A)  make breaches of behaviour more costly 
B)  government action such as legislation 
C)  market the 'good citizen' concept 
D)  all of the above

Question 19

In New Zealand, the accounting standard on corporate social responsibility is:

Accepted Answer

A)  NZ IAS 1. 
B)  NZ IAS 36. 
C)  NZ IAS 17. 
D)  There is no New Zealand standard on corporate social responsibility. 
A)  NZ IAS 1. 
B)  NZ IAS 36. 
C)  NZ IAS 17. 
D)  There is no New Zealand standard on corporate social responsibility.

Question 20

Which statement concerning Integrated Reporting (IR) is not true?

Accepted Answer

A)  IR enables an organisation to communicate its value creation over time. 
B)  An integrated report is a detailed and long written report provided for the benefit of shareholders. 
C)  An integrated report is built around an organisation's strategy. 
D)  IR provides information over the short, medium and long term. 
A)  IR enables an organisation to communicate its value creation over time. 
B)  An integrated report is a detailed and long written report provided for the benefit of shareholders. 
C)  An integrated report is built around an organisation's strategy. 
D)  IR provides information over the short, medium and long term.

The 2002 Sustainability Reporting Guidelines issued by the Global Reporting Initiative identify which of these trends?

An independent institution whose mission is to develop and disseminate globally applicable Sustainability Reporting Guidelines is:

Meeting society's need for goods and services without destroying natural or social capital is known as:

The form of the report recommended by the Global Reporting Initiative includes:

In evaluating the business perspective under the balanced scorecard approach, possible measures that could be employed are:

To maximise the effectiveness of corporate governance, an audit committee should be structured so that it:

In recent world studies on voluntary social responsibility reporting, it has been found that:

Aspects of corporate social responsibility are:

Triple bottom line reporting refers to reporting in the three areas of:

A 2011 KPMG survey on triple bottom line reporting found what percentage of the world's top 250 companies produced a separate corporate report with details of social and environmental performance?

Which statement concerning the balanced scorecard is not true?

Which of these is an example of an environmental disclosure in an annual report?

Using the Boston Consulting Group (BCG) portfolio matrix:

The system by which corporations are directed and controlled is known as:

The total impact of business actions on society at large is known as:

Which of these is a way in which sustainable reports should be similar to current financial reports?

Research has found that in Australia, environmental disclosures in annual reports tend to be:

Which of these is a way to encourage more socially responsible behaviour by companies?

In New Zealand, the accounting standard on corporate social responsibility is:

Which statement concerning Integrated Reporting (IR) is not true?

Introduction to Accounting

Different Accounting Entities

Measuring and Reporting Financial Position

Measuring and Reporting Financial Performance

Measuring and Reporting Cash Flows

Analysis and Interpretation of Financial Statements

Costvolumeprofit Analysis and Marginal Analysis

Full Costing

Budgeting

Projected Financial Statements

Capital Investment Decisions

The Management of Working Capital

Financing the Business

Filters

Exam 14: Trends and Issues in Accounting

The 2002 Sustainability Reporting Guidelines issued by the Global Reporting Initiative identify which of these trends?

An independent institution whose mission is to develop and disseminate globally applicable Sustainability Reporting Guidelines is:

Meeting society's need for goods and services without destroying natural or social capital is known as:

The form of the report recommended by the Global Reporting Initiative includes:

In evaluating the business perspective under the balanced scorecard approach, possible measures that could be employed are:

To maximise the effectiveness of corporate governance, an audit committee should be structured so that it:

In recent world studies on voluntary social responsibility reporting, it has been found that:

Aspects of corporate social responsibility are:

Triple bottom line reporting refers to reporting in the three areas of:

A 2011 KPMG survey on triple bottom line reporting found what percentage of the world's top 250 companies produced a separate corporate report with details of social and environmental performance?

Which statement concerning the balanced scorecard is not true?

Which of these is an example of an environmental disclosure in an annual report?

Using the Boston Consulting Group (BCG) portfolio matrix:

The system by which corporations are directed and controlled is known as:

The total impact of business actions on society at large is known as:

Which of these is a way in which sustainable reports should be similar to current financial reports?

Research has found that in Australia, environmental disclosures in annual reports tend to be:

Which of these is a way to encourage more socially responsible behaviour by companies?

In New Zealand, the accounting standard on corporate social responsibility is:

Which statement concerning Integrated Reporting (IR) is not true?

Introduction to Accounting

Different Accounting Entities

Measuring and Reporting Financial Position

Measuring and Reporting Financial Performance

Measuring and Reporting Cash Flows

Analysis and Interpretation of Financial Statements

Costvolumeprofit Analysis and Marginal Analysis

Full Costing

Budgeting

Projected Financial Statements

Capital Investment Decisions

The Management of Working Capital

Financing the Business

Filters