Which of the Following Identifies the Concept That an Organization

question 53

Multiple Choice

Which of the following identifies the concept that an organization should act ethically by taking accountability for the impact of its actions on the environment, the community, and the welfare of its employees?

• A)Corporate social responsibility
• B)Corporate governance
• C)Corporate social entrepreneurship
• D)Corporate sustainability

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Definitions:

Direct Materials

These are raw materials that can be directly attributed to the production process of a product, such as steel for a car or flour for a bakery.

Materials Price Variance

The difference between the actual cost of materials used in production and the standard cost of those materials as budgeted.

Variance Reports

Reports that compare actual financial performance with budgeted or planned performance, highlighting deviations and areas requiring attention.

Significant Variances

Large or important differences between planned and actual figures in a budget or financial statement, often requiring further investigation.