A Large Oil Company Also Owns a Chain of Print

question 113

Multiple Choice

A large oil company also owns a chain of print and broadcast news media.At one of its gas stations there is a large fuel spill,which leaks into a nearby harbour.This incident caused significant environmental damage,yet nothing was reported about it in the company's news media.What kind of media activity is represented by the absence of reporting this news in the company-owned papers,and on its radio and television stations?

• A) biasing
• B) sizing
• C) controlling
• D) obscuring

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Definitions:

FASB

The Financial Accounting Standards Board is an independent organization responsible for establishing accounting and financial reporting standards for companies and nonprofit organizations in the United States.

Franchise

A license that allows the franchisee to access a business's proprietary knowledge, processes, and trademarks to allow the party to sell a product or provide a service under the business's name.

Product Development

The complete process of bringing a new product to market, from idea generation to commercialization.

GAAP

Generally Accepted Accounting Principles, a collection of commonly-followed accounting rules and standards for financial reporting.