According to the Textbook, Why Do Corporate Social Responsibility Initiatives

question 19

Multiple Choice

According to the textbook, why do corporate social responsibility initiatives tend to gain more traction in affluent societies?

• A)Consumers in developing countries do not care about CSR issues.
• B)Consumers in developed societies expect more from the companies whose products they buy.
• C)Corporations in affluent societies can spend more money on CSR initiatives.
• D)Businesses in developing countries do not have competition and, thus, do not need to have CSR initiatives.

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Definitions:

Accrued Revenue

Revenue that has been earned but not yet received in cash or recorded by the accounting system.

Reversing Entries

Reversing entries are journal entries made at the beginning of an accounting period to negate the effects of certain adjustments made in the previous period.

Classified Balance Sheet

A financial statement that groups assets, liabilities, and equity into categorized sections for easier analysis.

Closing Entries

Journal entries made at the end of an accounting period to transfer balances from temporary accounts to permanent accounts.