Triple-Bottom Line Refers to

question 23

Multiple Choice

Triple-bottom line refers to

• A)the recognition of the need for organizations to improve the state of people, the planet, and profit simultaneously.
• B)the recognition of the need for organizations to improve the quality of its products, the job satisfaction of its employees, and needs satisfaction of its customers simultaneously.
• C)the recognition of the need for organizations to be responsible simultaneously to shareholders, employees, and customers.
• D)when companies are able to attain number one status in an industry in terms of market share, total revenue, and total profits simultaneously.
• E)three different financial statements prepared in three different formats: one for governmental audits, one for shareholders, and one for public records.

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Definitions:

Net Income

The concluding profit figure for a company, arrived at by deducting every type of expense and tax from its complete revenue.

Accumulated Depreciation

The total amount of a tangible asset's cost that has been allocated as depreciation expense since it was put into use, reflecting usage or wear and tear.

Service Fees Earned

Service fees earned refer to revenues a company generates from providing services to clients or customers, as opposed to selling physical goods.

Work Sheet

A paper or electronic document used by accountants to compile and analyze financial information prior to preparing financial statements.