Which of the Following Statements Regarding Social Enterprises Is TRUE

question 9

Multiple Choice

Which of the following statements regarding social enterprises is TRUE?

• A)Social enterprises are essentially nonprofit organizations.
• B)To become a socially conscious organization,one-half of the shareholders must approve.
• C)The focus of social enterprises is the motto "reduce,reuse,recycle."
• D)Unlike charities,social enterprises can sell stock to investors.

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Definitions:

Accrued Expenses

Expenses that have been incurred but not yet paid for, often recognized in the accounting period they are incurred.

Fiscal Year

A one-year period that companies and governments use for financial reporting and budgeting, which may or may not align with the calendar year.

Straight-Line Depreciation

An approach to evenly spread the cost of a tangible asset throughout its period of use.

Time Period Assumption

The accounting principle that allows the business operations to be divided into specific time periods such as months, quarters, or years for reporting purposes.