In Canada,the Certification Process to Gain B-Corp Status Is Performed

question 50

True/False

In Canada,the certification process to gain B-Corp status is performed by the non-profit MaRS Centre for Impact Investing.

Comprehend the characteristics and accounting treatment of provisions and contingent liabilities.

Identify the nature of current liabilities and their impact on liquidity.

Distinguish between secured and unsecured notes, and their reporting in financial statements.

Analyze the effects of not recording a liability on financial statements.

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Definitions:

Profit-Sharing Program

An incentive scheme whereby employees receive a share of the company’s profits, usually in addition to their regular salary.

Tons

A unit of weight equivalent to 2,000 pounds in the United States (short ton) or 2,240 pounds in the United Kingdom (long ton).

Quality

The standard of something as measured against other things of a similar kind; the degree of excellence of something.

Extremely Diverse

Referring to a broad spectrum of differences among people or entities, including but not limited to culture, ethnicity, opinions, and skills.