Stakeholders Are Increasingly Demanding or Expecting Sustainability Reporting from Business

question 58

Multiple Choice

Stakeholders are increasingly demanding or expecting sustainability reporting from business.The pressure for these reports comes from all of the following stakeholders,except:

• A)service professionals
• B)employees
• C)competitors
• D)shareholders
• E)consumers

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Definitions:

Net Income

The total earnings or profit of a company after all expenses and taxes have been deducted from revenue.

GAAP

Generally Accepted Accounting Principles, the standard framework of guidelines for financial accounting used in any given jurisdiction, primarily in the United States.

Expense Recognition

The accounting principle that dictates the timing of reporting an expense in the financial statements, ensuring expenses are recorded when incurred.

Revenue Recognition

The accounting principle that dictates the conditions under which revenue is recognized and recorded, often requiring that revenue is earned and measurable.