The Three Dimensions of Performance Are Often Referred to in Terms

question 45

Multiple Choice

The three dimensions of performance are often referred to in terms of the "three pillars" and include:

• A) People,planet,and profit.
• B) People,which refers to the various social initiatives that make up the CSR strategies.
• C) Planet,which refers to a firm's ecological impact and environmental practices.
• D) Profit encompasses the economic impact (value and costs)that the company has on society.
• E) All of these.

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Definitions:

Cost of Inventory

The total expense to purchase and manage inventory stocks, including purchase costs, shipping, handling, and storage.

Perpetual Inventory System

An accounting system that continuously updates inventory records and cost of goods sold after each purchase or sale.

Closing Entry

Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent ones, thereby preparing the books for the next period.

Selected Accounts

Accounts chosen for review or analysis, often for the purpose of financial reporting or auditing.