In 2014 in New Zealand, Voluntary Disclosures in Annual Reports

question 34

Multiple Choice

In 2014 in New Zealand, voluntary disclosures in annual reports relating to social responsibility accounting can be described as:

• A) rare.
• B) occasional.
• C) becoming more common.
• D) universal.

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Definitions:

Net Income

The amount of profit a company holds onto after all expenditures and taxes have been taken out of its revenue.

Retained Earnings

The portion of a company's profit that is held back and not distributed to shareholders as dividends.

Net Sales

This is the revenue from all sales of goods and services less returns, allowances for damaged or missing goods, and discounts.

Cost of Goods SOLD

Expenses directly associated with the creation of goods a company sells, including costs for materials and labor.