Which Term Refers to Actions Taken by a Firm to Advance

question 21

Multiple Choice

Which term refers to actions taken by a firm to advance a social good that is beyond the interests of the firm?

• A) corporate social responsibility
• B) environmental goals
• C) corporate objectives
• D) public policy

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Definitions:

Internal Control

Processes and procedures implemented by a company to safeguard its assets, ensure accurate financial reporting, and promote compliance with laws and regulations.

Voucher System

A control mechanism in accounting that uses vouchers to record and authorize transactions prior to their occurrence.

Gross Method

An accounting method for recording purchases at the gross invoice amount before deducting any cash discounts.