Which of the Following Statements About Environmental Costs Is False

question 22

Multiple Choice

Which of the following statements about environmental costs is false?

• A) Remediation costs include offsite, but not onsite, remediation costs.
• B) Abatement costs include costs to reduce or eliminate pollution.
• C) Monitoring costs include the costs of monitoring the regulatory environment as well as monitoring the production process to determine if pollution is being generated.
• D) Private environmental costs are those borne by a company or individual.
• E) Social environmental costs are those borne by the public at large.

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Definitions:

Insurance Expense

The cost associated with premiums paid by a company to insure its property, assets, or operations against loss or damage.

Ledger Accounts

Records within accounting systems that collect data and transactions related to a specific asset, liability, equity, revenue, or expense.

Calendar Year-End

The end of the annual accounting period that coincides with the end of the calendar year, typically December 31.

Post-Closing Trial Balance

A financial statement listing all the accounts and their balances after closing entries are made, ensuring the accounts are ready for the next accounting period.